Las Golondrinas Group
Update on Las Golondrinas GroupSanta Lucia La Reforma is a beautiful municipality in the Department of Totonicapán, in the Western Highlands of Guatemala. The population of the area is 99% indigenous and speaks the Mayan dialect of Kiché. They have been described as people who are kind, responsible and hard working.
Seven women have organized themselves into a Friendship Bridge Trust Bank that they call “Las Golondrinas,” or “The Doves.” They are happy to apply for a new loan and begin a new loan cycle with Friendship Bridge. The ladies are also looking forward to the educational components of their monthly meetings, when they learn about how to manage their loans with information on effective business practices, accounting, budgeting, marketing and customer service. They can support their families more effectively as they learn about health, hygiene and how to get their children ready for school. And they learn about self-esteem, women’s rights and violence against women. “Microcredit Plus” is the name of the combination of the loans and educational seminars, and it is very effective.
Courage and a tremendous will to improve herself and move ahead describe Doña Ana, the married 23-year-old president of the Trust Bank who has one son. She is pregnant with her second child and wants to work hard to support the new member of the family. She has had four years of formal education. Several months ago, she opened up a “tortillería,” where she makes fresh tortillas three times each day. With her new loan, Ana would like to purchase corn and lime for her tortilla business as well as beans and gas. She has one employee who is most helpful.
Ana and the rest of the ladies of “Las Golondrinas” Trust Bank are committed to empowering themselves and eliminating poverty in their lives. Ana provides a strong and committed example of a Guatemalan indigenous woman who understands what she needs to do to move ahead. The ladies are very thankful that Kiva investors have learned about them because without these small loans, they would not be able to combat poverty and move ahead. Thank you, Kiva investors!
Previous Loan DetailsSanta Lucia La Reforma is a town in the Department ot Totonicapan in Southwest Guatemala. The Friendship Bridge Trust Bank “Las Golondrinas” or “The Swallows” is located here and is composed of six women who are mostly in their twenties except for one who is 60 years of age. The group is starting… More from Las Golondrinas Group's previous loan »
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).
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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!