Las Perlitas Group
Maria is the treasurer of the Trust Bank and a member of the Board of Directors. She is forty years old and the mother of four children who range in age from eight to twenty years. Maria designs and creates traditional clothing such as aprons and blouses called “huipiles”. She learned how to do this several years ago. She sells what she fabricates and business is going quite well. For this reason, Maria has hired two additional people from her community so that she can meet the demand of her customers. She is requesting a new loan that she will use to purchase supplies for her business, including a variety of good quality thread. She wants to be certain to have enough raw materials on hand. Maria sells her textiles two or three times each week. Her customers are well aware of the high quality of her clothing and they are most faithful. Maria tries to charge a good price, one that is good for her and for her customers.
Maria is very enthusiastic as treasurer of the group and wants to improve her leadership skills, which in turn will help her self-esteem. The entire Trust Bank is very excited to begin a new loan cycle that will include additional educational trainings about women’s leadership and women’s rights, business management practices, nutrition, health and hygiene as well as self-esteem. These trainings are given once each month by a Friendship Bridge Loan Officer in their own indigenous language in their own rural community. They are quite comfortable with the setting of their meetings and this makes them feel safe to communicate and to participate. Friendship Bridge calls the combination of the small loans and education “Microcredit Plus”.
Both Maria and her colleagues appreciate the confidence of Kiva investors, because the investment helps to build their future by improving their life conditions. Thanks Kiva.
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!