This group of women from Nahuala, Solola is named after a gorgeous flower, Las Buganbilias ( the bougainvilleas), that grows in that region. They expressed contentment with their community, which rarely has conflicts and houses amiable neighbors.
They are dedicated to the creation of home-spun textiles, which they sell as clothing, napkins and blouses mainly to local women in the town market.
Their best day of sales is the Sunday market day. They utilize the loans to buy wholesale cloth and thread in order to labor throughout the week to meet demand. Their loans also allow them money to live well while investing in the more expensive yet ultimately cheaper wholesale elements of their goods. Antonia Coti T. works with her husband in making textiles and now buys much more thread and embroidery supplies. Dominga Tziquin, the group leader, sells stone corn grinders in the Pacific coast towns.
This credit has made things go well for them, according to Manuela C.. The increased flexibility in the balance of funds for living and funds for investment in the business allows their business to grow steadily. Most of their repayments have been so reliable that they have gone from about 100 USD to now almost 800 USD.
The women are unanimously happy to work in the Bugambilias group. “We all know each other and laugh with each other, which makes it easier to repay,” commented Madgaelena T.. She went on to say that they help each other in repayment and remind each other about meeting dates and repayment dates.
These women, although focused on their business dreams such as increasing their amount of credit and the growth of their enterprise, have their true dreams rooted in seeing their children begin life in Guatemala with a head start. They wish to have the money to support a happy family which at the very least has the option financially to send their kids to school and give them a boost. This boost is slowly starting to be seen, as all of the mothers of this group currently send most or all of their children to school, despite the increasing expenses.
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