These strong-willed women are motivated to create more prosperous lives for themselves and their families. Maria is a 31-year-old single mother, and a prime example of someone who eagerly seeks the tools to elevate herself and her son. Because she grew up in extreme poverty, Maria had little access to formal education. She is seeking her first loan from Friendship Bridge that she will use to purchase supplies for dyeing, needles, and thread for her textile business. Maria creates colorful purses, curtains and bedspreads.
Friendship Bridge not only provides loans to over 20,000 clients, but also incorporates education in the monthly meetings of each Trust Bank. A Loan Officer shares relevant and beneficial information on timely subjects like children’s education and nutrition, effective business management including budgeting, accounting and customer service. Other topics covered include self-esteem and women’s rights as well as medicinal plants and health. It is the combination of the loans and education that makes the Microcredit Plus Program of Friendship Bridge such a wonderful vehicle for these impoverished women to leave poverty behind.
KIVA investors are valuable collaborators with Friendship Bridge and are greatly appreciated. Maria and the six ladies in the “Tzutuhil” Trust Bank are poised to face a brighter, happier and more prosperous tomorrow because of their small loans and education. Thank you, KIVA investors, for your kindness and generosity!
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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Success!! The loan was 100% repaid