Doña María is a hard-working member of the group. She is 45 years old and married with six children. Her youngest child lives with her and is just beginning his formal education. Doña María is quite motivated to provide him with everything that he needs. She has a textile business and sells her traditional blouses, belts and aprons in three nearby locations. The loan that she is requesting will enable her to purchase supplies for her business including fabric, ribbon, buttons, thread and needles. Her business is growing and is proving increasingly profitable.
The ladies of the Trust Bank are happy to have just welcomed a new member to the group. The new member is very enthusiastic about Friendship Bridge's educational program. A Loan Officer from the organization attends the monthly meetings and facilitates the educational portion of the meeting. The program has been designed to strengthen the women with new knowledge about a variety of relevant subjects including women’s rights, self esteem and violence against women as well as hygiene, health and nutrition. The women also learn about the use of medicinal plants. To assist them in successfully managing their loans, they learn about accounting, budgeting, customer service, marketing and pricing.
The Trust Bank's “Mayas” Group is anxious to begin their new loan cycle. They are full of hopes and dreams. Kiva investors play a prominent role in the success of these women. Thank you, Kiva investors for your compassion and generosity.
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!