The Friendship Bridge Trust Bank's “Ventura” Group was formed some time ago by 10 women who want to improve their standard of living and eliminate poverty in their lives. They are dedicated to their businesses and motivated to help support their families. The President of the Trust Bank is 32-year-old Manuela. She is married and has nine children. Manuela is quite pleased that five of them are in school as she understands the importance of education. She works hard two days each week selling chickens when the large local market is held. Her earnings enable her to support her nuclear family. Manuela is requesting a new loan in order to purchase additional chickens so she can expand her clientele. She is also looking forward to increased earnings.
The educational training sessions that are part of the monthly meetings with a Friendship Bridge Loan Officer are of great use to the women. The ladies enjoy learning and discussing topics like business administration and money management, women’s identity and leadership as well as self esteem. They learn a lot during this training and also from the experiences and opinions of their friends in the Trust Bank. Friendship Bridge has given the name “Microcredit Plus” to this combination of loans and education. It is a partnership that yields very positive results for the women.
The ladies of the Trust Bank's “Ventura” Group thank each Kiva investor who enables them to have access to a microcredit loan which not only benefits them and their families but also their community in Chichicastenango. Empowered with small loans and education, they step into a brighter future with confidence and determination. 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!