Gladys is a 40-year-old married member of the group with four children who range in age from 8 to 19. They are her treasures and the “light of her eyes”. Like some families in the community, her family is involved with weaving of typical skirts called “cortes”. Currently, Gladys has four employees and because of their assistance, she is able to meet the demand for each week. She has applied for a new loan with Friendship Bridge which she will use to buy a variety of good quality yarn. Gladys is very happy to have this working capital because she will have more material to work with and therefore, more income.
The nine women, along with their families, appreciate the opportunity to secure a loan which ultimately benefits everyone in their families since many of the businesses are family businesses. They also look forward to their monthly educational trainings on topics like sales and promotion, savings and indebtedness, medicinal plants, and healthy meals. Armed with their loans and information from their educational trainings, these women look forward to the future where empowered women will eliminate poverty.
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