Las Solidarias Chucam Group
Elsa, a young 26-year-old woman, is the Treasurer of the Trust Bank. She has had seven years of formal education, but because of the lack of funds, she was unable to complete her schooling. However, Elsa is very aware of the importance of education, and wants her little daughter to receive a good one.
She works hard in her textile business, where she creates beautiful, typical blouses and purses that enjoy great demand.
For this reason, Elsa is requesting a loan from Friendship Bridge, along with the other women in the Trust Bank.
She will use her loan to purchase fabric, zippers, thread, needles and other supplies for her textile business. Elsa looks forward to selling her increased inventory at an Artesan’s Market near her community. Many tourists attend the market, and Elsa wants to have lots of inventory for them to choose from.
The women of the Trust Bank acquire additional tools to improve their personal and business lives from the educational components of their monthly meetings. A Friendship Bridge Loan Officer shares useful and timely information about effective business management practices (budgeting, accounting, customer service, over-indedtedness) as well as health, hygiene and nutrition. The ladies also learn about self-esteem, women’s rights and violence against women. “Microcredit Plus” is the name that Friendship Bridge gives to this combination, and it is one that truly works.
On behalf of the hard-working and motivated women in the Trust Bank, Elsa thanks Kiva investors for believing in them and funding their loans. They are committed to working diligently and keep their goals in sight! Thank you, Kiva investors!
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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Success!! The loan was 100% repaid