Up a small dirt road, some cement stairs, and a pathway into a small home, the “Kakbe” Trust Bank members sit and chat in Quiche, the indigenous language of Nahuala. The majority of them wear the typical guipiles (woven blouses) and cortes (woven skirts). In Nahuala, the blouses are known for beautiful patterns and colors. Because of this, all but one member has created a business in the making and selling of these clothes. The women will use the money from their loans to buy traditional back strap looms and threads, and then begin to weave these incredible clothes.
Pascuala, who is 63 years old, is the only member of the group who does not specialize in traditional clothes. The owner of a small but successful bakery and bread shop in Nahuala, she will use her loan portion to buy flour and other ingredients to keep her business thriving.
Having grown up together in Nahuala, the nine women of the group have been friends for a long time. They know each other’s pasts and support each other’s futures. Kakbe signifies exactly this to them:
“It means that, together, we are working to create a better path for ourselves” says Pascuala, the oldest member of the group. “We want everything to go well for ourselves, but also for each other and our families,” she continues.
Pascuela and the other eight members thank the generous Kiva donors for their help. “We are thankful,” says Pascuela, “because they are helping us so much. We can now do what we have always wanted with this opportunity.”
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!