Las Rosas De Chipuac Group
The current President of the Trust Bank is 29-year-old Julia. She has had four years of formal education and is raising three children. Many women in the group are weavers and Julia is one as well. She fabricates textiles and is requesting a new loan to purchase thread and other materials in order to produce more textiles.
Julia possesses an outstanding leadership skill. She shares that her group is very responsible, punctual and supportive. She adds that during the five years that she has been involved in the Friendship Bridge Microcredit Program, her business has grown. Her production and sales have increased as well. Friendship Bridge provides useful monthly trainings to clients and Julia and her fellow Trust Bank members have learned a lot about topics like hygiene and health, natural medicines, empowerment, self-esteem, children and women’s rights. This component of the Friendship Bridge Microcredit Plus Program contributes greatly to their personal growth.
On behalf of “Las Rosas de Chipuac” Trust Bank, Julia thanks KIVA lenders who believe in their efforts and work, and fund their loans. This means so much to the women as they can be productive and empowered. They are able to contribute to the economy of their household and the local development of their town. It is a wonderful win-win situation!
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