El Paraiso Group
The Friendship Bridge Trust Bank “El Paraiso” meaning “Paradise” is located here. The group is composed of eight hardworking women who feel that they have a paradise of opportunities because of the loans that they are able to access, kindly funded by Kiva investors. The ladies are involved in various businesses like vegetable sales, animal husbandry and agriculture.
Petronila, a 32-year-old mother of three children, is the Secretary of the Trust Bank. She has had six years of formal education and realizes how important it is that her children attend school. Petronila has been working hard in her animal husbandry business to meet the monthly expenses of her family. She has had a lot of experience in this area and in the past has raised chickens, cattle and horses. Now, she is seeking a new loan that she will use to purchase a calf to fatten up and sell for a good price.
The Microcredit Plus Program of Friendship Bridge combines small loans and non-formal participatory education. In each of the monthly meetings, a Loan Officer presents relevant and useful information on effective business practices including budgeting, accounting and customer service. Other subjects covered include women’s rights, children’s education, nutrition and health and self-esteem. Petronila finds this last topic to be really beneficial for her as she is transforming herself into a successful and empowered woman!
Kiva investors are greatly valued by Petronila and her fellow Trust Bank members. The ladies of “El Paraiso” extend their thanks to each one of you who believe in them and generously fund their loans. They face a brighter tomorrow, empowered by their loans and education, which are so transformative for themselves, their families and their community of Santa Clara La Laguna!
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!