Luz Del Camino Group
Lidia is a 23-year-old secretary of the Trust Bank who is married with one small daughter. She has a “carnicería” or a meat store located in the community that was begun by her family several years ago. Lidia, along with her mother, is the current owner of the business. She has applied for a loan that she will use to purchase more fresh meat, as there is much demand in the area. Her customers would rather buy from her rather than traveling to the center of the town. Lidia is quite happy that she has such a faithful clientele because she looks forward to increasing her income and improving the lifestyle of her family.
Lidia and the ladies in the Trust Bank are most aware of the value of education. Most of them have had little or no formal education. Lidia is unique in the group because she has had nine years of formal education. She wants her daughter to have access to many years of formal education and is committed to creating a positive and healthy environment for the little girl.
The women of the Trust Bank benefit from the educational component of their monthly meetings, when a Friendship Bridge Loan Officer shares valuable and practical information with them on how to successfully manage their loans, take care of their families, empower themselves and eliminate poverty in their lives. The combination of the educational piece and loans is what Friendship Bridge calls “Microcredit Plus.”
It is so important for these women to break the cycle of poverty and transform themselves and future generations of daughters, mothers, sisters, aunts, cousins and grandmothers. The “Microcredit Plus” program is a valuable way for the women of the “Luz del Camino” Trust Bank to light the road ahead and create a more prosperous future. Thank you, Kiva investors, for your generosity and kindness in funding these much-needed 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!