Kaksija Ii Group
They speak rapidly in their native language of K´iche´, and when necessary, the younger members translate from Spanish for the older members of the group. These fourteen women know each other well, having been together for almost eight years.
They dedicate themselves to traditional artisan crafts, primarily to the intricate art of weaving ‘huipiles’, beautiful hand-woven blouses than can take up to a month to produce. They also sew skirts and scarves, such as the ones in the picture.
As members of their community bank, these women have not only become friends and confidants, but they also support each other in business and give advice on loans. If a new member enters the group, the other women make sure that she understands what it means to receive a loan, and the importance of paying back on time. They help each other, sharing business tips and loan advice, ensuring that each member is successful.
Six women of the community bank are asking for a group loan of 16,000 quetzales ($2100), ranging from $150 to $400 per person. They will invest this money in colorful thread for their weaving and one woman is hoping to purchase a sewing machine that will enable her to rapidly increase her productivity, as well as the quality of her product.
All the women have children and they dream of being able to provide them an education so they can have better lives with more opportunities.
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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Success!! The loan was 100% repaid