Las Cruces Group
Update on Las Cruces GroupA year ago, the Friendship Bridge Trust Bank "Las Cruces" from Chuanoj, a community in the Department of Totonicapán in Southwest Guatemala, received a loan funded by KIVA investors. This loan was paid off completely and successfully. Now the group is applying for a new loan which they hope the KIVA investors will fund. For this new loan cycle, the group is composed of thirteen women, one of which is new to the group.
As with all the Friendship Bridge Trust Banks, "Las Cruces" has its own Board of Directors. Anastasia is 25 years old and Treasurer of the group. She married at a very young age and has four children. Anastasia has a textile business that she started four years ago and creates beautiful high quality traditional clothing. Specifically, she weaves “cortes” that are tubular skirts generally woven on a foot-powered, treadle loom. The business is progressing quite well and Anastasia now has two employees. She requests a loan to purchase two more foot looms and to buy supplies including thread for her business.
The women of the Trust Bank are very aware of the importance of education. Anastasia is pleased that three of her children are in elementary school, an opportunity that she was not afforded. Anastasia has a chance to gain new knowledge at the monthly meetings of her Trust Bank when a Friendship Bridge Loan Officer conducts educational seminars on relevant subjects like effective business management practices, nutrition, health and hygiene as well as self-esteem and women’s empowerment. Friendship Bridge has called the effective combination of loans and education “Microcredit Plus”.
Friendship Bridge and KIVA form a useful and successful alliance in the lives of the women of the “Las Cruces” Trust Bank. The ladies are very happy and grateful to be able to empower themselves and create better lives for themselves, their families and their community of Chuanoj, Guatemala.
Previous Loan DetailsThe Las Cruces Trust Bank resides in Chuanoj, a community in Totonicapan which is located in southwest Guatemala. Currently the Trust Bank is composed of 12 women, who on average are 32 years old and have about three years of formal education. These women are very responsible, hard-working people… More from Las Cruces 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
This is a Group Loan
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This loan has been fully funded!