Paraje Tzancoral Group
Catarina is a 54-year-old mother of five children. She sells tortillas, an indispensable food in the Guatemalan highlands, that is made from pure corn. Her business is progressing well and she wants to increase it even more. Catarina wants to sell vegetables in the same little storefront where she sells tortillas. She has applied for a loan which she will use to buy larger quantities of corn to produce more tortillas and purchase vegetables as well. Catarina has two employees in order to meet the demands in her customers. She is happy to be able to provide part-time employment so that her employees have an income to support their families.
The nine women of the “Paraje Tzancoral” Trust Bank thank KIVA investors for their generosity and confidence. The additional capital with the small loans combined with the monthly educational trainings on topics like effective business administration and budgeting offered by a Friendship Bridge Loan Officer provides the women with real tools to empower themselves. In this way, the ladies are facing a brighter and more prosperous future. Thank you!
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