Mayas San Juan Group
The women of the Mayas San Juan community formed a new group of about two weeks of age and are looking to receive their first loan. Most of these women either own a weaving business or a daily consumption store. The women of this group know one and other quite well from their San Juan La Laguna community and expressed determination to prove themselves to their families, their group members, and their microlenders. They were content with being part of a community of “united women without envy of each other” as Cecilia C. V. put it.
There was consensus that the loans were going to be easy to repay. These loans would allow them primarily to invest in their business for higher future profit. Most women in the weaving industry create guipiles and cortes, the traditional indigenous outfits, to sell in the upcoming June 23rd town fair. Seven of them needed funds to invest in their stores which they hoped to set up near the fair. With more products to sell at once, their profits can be much larger during the peak sales of the festive season. They organized this meeting early precisely because of their hopes to receive their loans before the fair.
Melchora Isabel C. owns a traditional clothing store which focuses on sales to tourists. Thanks to her credit, she has been able to produce enough textiles to sell to an intermediary American friend, who exports to the USA. She hires friends to maintain her production rate and allow her time to continue to study in hopes of achieving the equivalent of a high-school degree.
She, along with five others of this new group, stood out as confident role models who began six years ago with loans of 40 USD and are now receiving loans of up to 400 USD. Most of them are in leadership positions such as group president or secretary. Iris Yolanda I. began without any business whatsoever, and is now the proud owner and manager of a crafts and textile business. Cecilia C. now travels to well-known Antigua, Guatemala, to sell the hammocks she makes in large amounts with the help of the loans.
The primary vision that these dedicated businesswomen share is to provide their children with the clothing, food, and education necessary for them to “have it better off than they did as children” and to go on into their adult life with a head start, as Cecilia C. expressed. Alicia C. Y. emphasized the need for this type of individual effort aided by the loans to collectively help their entire town, region, and soon country, prosper.
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