Micro Credit for 15 Women in Guatemalan Highlands

 
$1,044
$1,956
Raised
Remaining

Summary

The women in Santa Clara la Laguna. Solola, Guatemala have many ideas for improving their lives, but lack of access to capital prevents them from implementing their ideas. With access to small loans of $100 they have been able to buy sewing machines, have more capital for their established business, and buy chickens to improve their food supply. With an increased pool of capital, we plan to make more loans available in Santa Clara and add a project in Chumanzana, Chichicastenango, Quiche.

What is the issue, problem, or challenge?

Women in Santa Clara la Laguna and Chumanzana in the Guatemalan Highlands are stuck in the cycle of poverty. They are unable to implement their ideas for moving forward because access to capital is unavailable. Loans that are available are at interest rates that would put them hopelessly in debt. This project will make small loans available to these women to implement their ideas for small businesses appropriate to their communities.

How will this project solve this problem?

The Kateri Tekakwitha Fund Microloan program provides loans of $100 to the members of two groups in the Guatemalan Highlands. The 15 women in the groups use these loans to implement new or strengthen their present businesses to increase the family income and break the cycle of poverty. The women also add to the loan pool by paying a 5% surcharge into the microloan fund. This increases the money available for loans. It also fosters a sense of independence and dignity in the women.

Potential Long Term Impact

Long term access to loans will give the women a sense of self determination. Women who feel in control of their lives pass that sense of dignity to their children. Thus the whole family and by extension the whole community benefit.

Funding Information

This project has been retired and is no longer accepting donations.

Resources

 

Microproject Disclaimer

Every microproject is intended to use the donations it receives in accordance with its stated description; however, it is important to provide project leaders with the flexibility to maximize the potential benefit from the donations they receive. This means that your donation may be used as a part of the main project that supports this microproject, specifically Scholarships & Training for Rural Guatemalan Women. In this event, the project leader is required to post an update to the microproject detailing the results and reasons behind this change.

If you or any other donor is unhappy with the way their funds have been used, he or she can reallocate their donation using the GlobalGiving guarantee.

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