Las Chicualenses Group
With the goals of strengthening and increasing their textile businesses, ten women have organized themselves into a Friendship Bridge Trust Bank called “Chicualense”, which means “Women of Chicua”. They have welcomed two new members to the Trust Bank, and are happy to apply for a new loan that they hope will be funded by KIVA investors.
Juana is the President of the Trust Bank. She has one young son, who will be starting his formal schooling quite soon. Juana and her husband are thrilled about his anticipated entrance into primary school, and are working hard so that he has all the support that he needs, as the couple realizes that education is a vital key to a successful future. With this in mind, Juana is requesting a loan from Friendship Bridge that she hopes will be funded by KIVA investors. She plans to use her loan to purchase thread and supplies to diversify and increase her production of traditional blouses and “perajes”, which are multipurpose woven carrying cloths used for utilitarian (carrying babies or purchases) or ceremonial purposes.
The ladies of the “Chicualense” Trust Bank are not only happy to receive funding for their loans but also to participate in the educational component of their monthly meetings. They receive practical and useful information from a Friendship Bridge Loan Officer about effective business practices including accounting, budgeting, savings and customer service. The women learn about proper hygiene, health, nutrition and the use of medicinal plants. Friendship Bridge calls the combination of the small loans and education “Microcredit Plus”, and it is a most effective mixture.
The entire Trust Bank is most appreciative that there are people from throughout the world who learn about them and fund their loans. They are committed to using the funds wisely and paying them back fully and on time. Thank you, KIVA investors, for your kind and generous gesture!
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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