Margaritas De Xejuyu Group
Sonia is a 39-year-old member of the Trust Bank and has four children. She has had three years of formal education, and because of her leadership skills and her great desire to excel, Sonia has been elected president of the group. She has a convenience store and is requesting a loan to add inventory to her store. Sonia needs to purchase rice, beans, oil, salt, noodles, sugar and drinks in order to meet the demand of her customers.
It is essential that the women learn how to manage their loans, so the Microcredit Plus program of Friendship Bridge is especially useful for them. A loan officer attends their monthly meetings and shares relevant information with the ladies on subjects like accounting, budgeting, customer service, indebtedness, marketing and pricing. The ladies also benefit from increased knowledge about health, hygiene and nutrition, as well as the use of medicinal plants. Attending their meetings, one notices more smiles and increased self esteem.
Sonia and her friends in the “Margaritas de Xejuyú” Trust Bank extend their heartfelt gratitude to Kiva investors. They feel fortunate to be together, to work toward the common goals of empowering themselves and eliminating poverty in their families and community. Kiva investors are valuable partners in this effort!
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