Mujeres Central Group
The Secretary of the Trust Bank is 29-year-old Encarnación who is married with one daughter. She carries out her secretarial duties successfully and also enjoys success with her small store where she sells high quality textiles. Encarnación also has a stall in the local market where she sells baby clothes and undergarments for women. Recently, she began another business and sells “ceviche” which is a marinated fish cocktail. This is her own delicious recipe and her customers love to buy it from her. Encarnación is requesting a new loan that she will use to buy more utensils and other supplies in order to improve her businesses.
All of the ladies of the Trust Bank benefit from the monthly educational seminars given by a Loan Officer of Friendship Bridge. They can immediately use relevant information about business administration, budgeting and accounting as well as customer service and indebtedness. Other topics covered include health and medicinal plants, women’s rights and self esteem and healthy habits. Friendship Bridge calls the combination of the loans and non-formal education “Microcredit Plus”. It is a valuable combination that really works for the over 20,000 women clients of the organization!
Encarnación and the six other women in her Trust Bank want Kiva investors to know how much they appreciate being able to secure these small loans. They work hard to manage their businesses successfully and are determined to pay back the loans fully and on time. Thank you, Kiva investors!
About Friendship BridgeThis loan is administered by Friendship Bridge (FB), a nonprofit, nongovernmental organization that empowers thousands of impoverished Guatemalan women through its Microcredit Plus program. The program combines small loans averaging US$350 for four-to-twelve month loan terms with non-formal, participatory education.
As FB clients, women start, expand, or diversify their businesses and learn practical lessons on topics including business, health, and self-esteem. FB’s clients borrow as a group, forming Trust Banks (groups of 7-25 women who serve as co-guarantors of the loan and act as a self-regulating support network).
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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This loan has been fully funded!