Mujeres Del Sector Terminal Group
Update on Mujeres Del Sector Terminal GroupChichicastenango is quite famous for its huge and colorful native market that has been held two days each week for years. It not only draws the K'iche' Maya of the surrounding region but also vendors representing many of Guatemala’s linguistic groups such as the Ixil, Kaqchikel, Mam and others, each dressed in their traditional costume and speaking their own unique language. The market is a rich tapestry of costumes, color, dialects, smells and the smoke from the tradition of burning incense on the steps of the cathedral right in the middle of the market. The area is well-known as a rich agricultural area with prolific orchards of fruit trees. Peaches, plums, pears, and apricots are harvested and distributed throughout the country. In addition, many in the area work in textile production, creating the colorful and beautiful traditional costumes of the area.
The Friendship Bridge Trust Bank Women Del Sector Terminal is located here and are about to begin their second loan cycle with Kiva. The eight women in the Trust Bank share that with their previous loan, they were able to realize tremendous benefits in their various businesses. The ladies have an average age of 31 years, average one year of formal education, and average five children in their families.
Eva is one of the youngest members of the Trust Bank. She is 24 years old with three years of formal education. Eva is the Secretary of the Trust Bank. She not only has a small fruit orchard but also a traditional textile business. Eva is requesting a loan to invest in her orchard and wants to purchase seedlings and fertilizer. She wants to also purchase supplies for her textile business. She is looking at her orchard in the long term as it does take time for trees to grow and bear fruit. In the meantime, her textile business will generate enough income for her to take care of her short term needs.
The women of the “Mujeres del Sector Terminal” Trust Bank and Eva understand the value of education. They work hard so that their children can gain access to a good education and a more prosperous future. At the same time, they benefit from the educational components of their monthly meetings when a Friendship Bridge Loan Officer facilitates participatory educational trainings on a variety of subjects like how to be a successful entrepreneur (accounting, budgeting, marketing, pricing, customer service), keeping a healthy household (nutrition, healthful practices, personal hygiene) and self-esteem. “Microcredit Plus” is the name of the effective combination of the small loans and education.
Eva and her friends in the Trust Bank thank Kiva investors for their kindness in funding their loans. They are determined to empower themselves and eliminate poverty in their lives. Thank you, Kiva investors!
Previous Loan DetailsThe Friendship Bridge Trust Bank, “Mujeres del Sector Terminal” is composed of ten hardworking women whose average age is 31 years. Each averages four children and although each has less than a year of formal education, the women realize how important it is for their children. Most of the ladies ... More from Mujeres Del Sector Terminal 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!