Las Cumplidoras Group
As a new member of the group, Eva Maria, is starting her first loan cycle. She is 20 years old and a mother of two boys (a three year-old toddler and a five month-old baby). Both Eva Maria and her husband work to earn money for their family. Her husband is a toy merchant and Eva Maria raises pigs. She currently owns four pigs, but has plans to double that number with the loan she obtained from her involvement in the Friendship Bridge Trust Bank. The increased income will further Eva Maria’s dream of going back to school. Her formal education was interrupted with the birth of her first son when she was in 8th grade, but she is excited about the non-formal education that Friendship Bridge provides with the loans. In the meantime, the money she earns will help ensure her own children complete school.
Along with Eva Maria, the ladies of Las Cumplidoras Trust Bank are engaged in various enterprises including sewing, the sale of chickens, fruit, food, and traditional clothing; and the management of a convenience store. On average these women have four children, each of whom they hope to provide a good education and continued good health. These important goals are now in reach because of the monthly training they receive from Friendship Bridge along with their loans. Lessons cover topics such as self-esteem, children's rights, business management, money management, budgeting, and savings.
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