Mujeres De Chucaja Group
The Trust Bank, “Mujeres de Chucaja,” is located in this village. The average age of these women is 41 and they each have about three children. The women have had less than two years of education. They speak the local language of K’iche and most do not speak Spanish at all.
Lucia is the current President of the Trust Bank. She is a 29-year-old single mother of a beautiful one-year-old daughter. She is determined to see a bright future for her daughter and this motivates her to strive forward. Friendship Bridge has been of great value in Lucia’s life as it has allowed her to grow her business. She owns a little store where she sells items for daily consumption. With the new loan that Lucia is requesting, she will purchase more items for her store such as rice, noodles, sugar, salt, oil, soft drinks, and juices. She is sensitive to the wishes of her customers and wants to have plenty of products on the shelves. Lucia also raises chickens and pigs. With her loan, she will be able to purchase more chickens, fatten them up, and sell them in the local market.
Lucia is an effective and enthusiastic leader. The women in the group are lively and dynamic during their monthly meetings. They are happy to participate and eager to receive trainings on topics like effective business administration practices, women’s health, and self-esteem. All the women of “Mujeres de Chucaja” express their appreciation to each KIVA investor for their generosity and their confidence. They are committed to making prompt payments on their loans and look forward to a brighter future for themselves, their families and their community.
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