Lluvia De Bendicion Group
Dolores is the President of the Trust Bank. She is 51 years old, married and has three children. She is quite pleased that all three are in school because she understands that with education, they will have more opportunities and their standard of living will be much higher than hers. This dedicated woman sells medicinal plants, vitamins, soaps, lotions and shampoos that are 100% natural. The growing demand for her products motivates her to acquire new products in order to diversify her inventory and increase sales. For these reasons, she is requesting a new loan.
The ladies of the Trust Bank benefit greatly from the educational sessions in their monthly meetings. Acquiring new personal and business tools enables them to have more self-confidence and self-esteem. Friendship Bridge realizes that the combination of the loans and education, which the organization calls “Microcredit Plus”, is quite effective for the ladies to empower themselves. At their monthly meetings, the women learn about how to successfully manage their loans with presentations about accounting, budgeting, pricing, marketing and customer service. Their personal lives are enhanced with knowledge about health, hygiene and nutrition, as well as women’s rights and leadership.
Dolores and the women express their appreciation to Kiva lenders for their kindness in funding the loans. The women promise to work hard and pay the loans back in full and on time. We look forward to reporting on their progress in a future report. Thank you, Kiva lenders!
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