Juana is a 45-year-old President of the Trust Bank who is married with one child. For several years, Juana has been involved in the production of traditional colorful textiles which she fabricates by hand. Because of her beautifully crafted and elaborate designs, her work is in high demand, even though it is a bit more costly to her customers. As her business is enjoying increased success, she has hired three of her sisters. Juana is applying for a new loan from Friendship Bridge that she will use to purchase a wide variety of thread, yarn and other supplies. She shares, "I am so grateful to Friendship Bridge and to all the people who support the organization, because they are supporting so many women. The results of our hard work may not be immediately visible, but we are working very hard to maintain and improve our small businesses. Thank you, KIVA, for trusting us and for funding our loans.”
The ladies of the “Mariana” Trust Bank meet each month to make payments on their loans and participate in educational seminars. As most of them have had little or no education, they are motivated to learn how to manage their loans, and so the information provided by a Friendship Bridge Loan Officer is most useful and helpful. The women learn about budgeting, marketing, pricing and customer service. They also learn about indebtedness. Their home lives are enhanced when they learn about hygiene, health and nutrition as well as the use of medicinal plants. Friendship Bridge calls the combination of education and loans “Microcredit Plus”, and it is a partnership that is most effective.
Having been through several loan cycles with Friendship Bridge, the ladies of the “Mariana” Trust Bank have proven themselves to be responsible and trustworthy. They anticipate that this new loan cycle will be very successful, both for themselves and their businesses. Thank you, KIVA investors, for your generosity in funding their loans!
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!