Amelia is a married member of the Trust Bank. She is a 33-year-old teacher with two daughters, one of whom is about to graduate from high school. Amelia wants to continue to support her daughter so that she can continue her studies at university. Amelia has a traditional textile business and sells her merchandise both retail and wholesale. She sells the complete “traje” or traditional costume of blouse or heavier “huipil”, skirt, belt, and carrying cloth. She buys her merchandise at a wholesale price. Amelia is requesting a loan to diversify her merchandise with new styles and colors.
Although Amelia had access to a university education, she is quite pleased to participate in the educational components of the monthly meetings of the Trust Bank. She always learns something new and useful and sees how her fellow Trust Bank members enhance their lives and their businesses. The majority of the ladies do not know how to read or write and so the educational training sessions are essential to their success as caretakers of their family members and business entrepreneurs. The training is given in the indigenous language of the women, often with pictures, and covers a variety of subjects including effective business management practices, nutritional and health tools, and self-esteem.
The seven women of the “Orquideas” Trust Bank look forward to blooming just like the flowers that they are named after, and to creating a brighter tomorrow as empowered women eliminating poverty. KIVA investors are essential partners in this effort and highly valued. We will report on the progress of Amelia and the ladies in the Trust Bank in the very near future. 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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This loan has been fully funded!