Seeking better lives for themselves, their families and their community, ten women have formed the Friendship Bridge Trust Bank “Sacpulupense”, meaning “People from Sacpulup”. The majority of these ladies are involved in traditional textile production, as is the case of 37-year-old María, the secretary of the Trust Bank, who has had six years of formal education. In spite of this, she is able and proud to keep accurate minutes of the Trust Bank meetings, as well as other proceedings and agreements. Maria has eight children. She joined the Trust Bank in order to obtain a loan which she will use to purchase good quality thread and other supplies to create typical tablecloths and napkins. She wants to attract more clients and intends to improve her designs so that they are unique and more in demand.
Maria feels happy because, along with her husband, the couple has been able to send their children to school. When the children are not studying, they work with their parents in the textile business which allows the family to create and sell more of their products.
Maria also participates in the monthly educational trainings of her Trust Bank, where a Friendship Bridge Loan Officer presents information on essential topics such as effective business practices, including proper accounting, budgeting, and customer service, women’s rights, self esteem and health as well as nutrition and medicinal plants. Friendship Bridge calls the combination of education and loans “Microcredit Plus”.
Transforming themselves into empowered women eliminating poverty, Maria and her friends in the “Sacpulupense” Trust Bank see a brighter and more hopeful future. Thank you, KIVA investors, for your participation and good will!
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