Catarina, a 41-year-old member of the Trust Bank, has had three years of formal education, and has two children. Catarina sells chicken in a small stall in front of her house. Her business has been growing and she now caters for big events like anniversaries, birthdays and weddings. In order to expand her business, Catarina needs to inject additional capital and so she is requesting a new loan from Friendship Bridge that she will invest in more chickens. She wants to be certain to keep her business healthy and her clients satisfied. Catarina is very pleased that with her income, she is able to meet the educational expenses of her daughters. One of them is about to graduate with a teaching certificate and Catarina wants her to obtain even more education at university level.
The success of the women in the Trust Bank is due to their own determination as well as the tools that they gain in the “Microcredit Plus” Program of Friendship Bridge that combines the small loans and education. The ladies in the Trust Bank know that at each of their monthly meetings, they will gain practical business and personal tools from a Friendship Bridge Loan Officer. They learn about timely subjects like how to properly manage their businesses (budgeting, accounting, marketing, customer service, pricing) as well as the dangers of over-indebtedness. The women understand the importance of good nutritional practices and learn about health, hygiene and the use of medicinal plants. They also learn about women’s and children’s rights, violence against women and discrimination.
Catarina and her friends in the “Utatlecas” Trust Bank are poised to step into a brighter future along with their family members and their community in the Guatemalan Highlands, but they are unable to walk into a local bank and secure a loan. KIVA investors fufill a most important part of the Friendship Bridge “Microcredit Plus” Program by supplying capital for these essential loans. Catarina and the ladies in the Trust Bank are most appreciative to each of you. Thank you!
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!