Most of the women in the Trust Bank work in textile production and create the beautiful, elaborate and embroidered clothing that the indigenous women proudly wear. Many travelers and tourists travel to Guatemala in search of these textile treasures.
Paulina is a 31 year old member of the Trust Bank with five years of formal education. She has one daughter. Shortly after she married, together with her husband, the couple began a tee-shirt business. They sell their tee-shirts by the dozen to merchants who re-sell them throughout Guatemala. Paulina is requesting a loan that she will use to purchase a sewing machine. This will allow her to improve and expand her business.
Paulina and the ladies in the “Maya” Trust Bank learn a great deal from the educational components of their monthly meetings with a Friendship Bridge Loan Officer. They are eager to learn how to manage their small loans and so presentations about effective business practices are quite useful. The women learn about accounting and budgeting for their small businesses. They also learn about indebedtedness and customer service. As many have had no formal education, they are eager to learn about nutrition, health, and hygiene as well as self esteem.
KIVA investors are valuable assets in the Microcredit Plus Program of Friendship Bridge. The women in the organization realize this and express their gratitude. The ladies look forward to a brighter tomorrow benefitting 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