Women’s collaborative brings speaker to teach about microfinance for poor Guatemalan women.  When women in poor, rural areas receive a small loan, big things can happen.  (Excerpt taken from Chico News & Review, click here for full story)

“There was one [Guatemalan] lady … [who] had become a success, and she said, ‘Now I know that my husband doesn’t need to beat me,’” offered Katy Warren, co-founder of the Women’s Microfinance Collaborative, a loosely knit group of Chico-area donors focused on microfinance.

The woman was a recipient of a microfinance loan that she received from Friendship Bridge—a Colorado-based microfinance institution (MFI) that focuses on empowering poor entrepreneurial women in Guatemala by giving loans of usually around $300-$350. Loans are used to grow small businesses—for instance, to buy a new loom for a weaving business, or buy seeds for a small farm.

“That’s a big deal to me,” said Warren of the Guatemalan woman’s newly found strength. “She had enough power to say, ‘No, you’re not going to hit me again’ to him.”

Michelle Rasmussen, the collaborative’s facilitator and chairwoman, agreed. “Allowing women to get into a business and be self-sustaining changes not only their economic situation, but their social situation [as well].”

Microfinance—as the name implies—is the supply of small loans and other financial services to the poor, who often are excluded from traditional banks’ services because of their rural locations (making banks inaccessible), or because of their low incomes, which disqualify them for traditional loans.

Click here for full story at Chico News & Review.

Dear Friends,

As key stakeholders who have made a considerable impact on our organization, I want to ensure you are well-informed of our activities and progress.   Friendship Bridge has hit an important milestone this month and I am excited to share the details with you, along with other important initiatives. If you are looking for more in-depth information on any of these highlights, please contact the Friendship Bridge office via e-mail or 303.674.0717.

Highlights:

• Portfolio reaches historic high while maintaining excellent quality
  Friendship Bridge grew our portfolio to 30 million quetzales ($3.85 million)!  This is an exciting milestone for Friendship Bridge and I am happy to report that this accomplishment was met while continuing to maintain our excellent portfolio quality and serving nearly 18,000 clients.

• Reducing the burden of poverty
  Our impact and evaluation work shows a clear, positive association between the length of time a client is with Friendship Bridge and their level of poverty.  Our work in reducing the burden of poverty is two-fold: (1) Clients create a more consistent cash flow and protection against shocks such as unexpected illnesses or natural disasters; and, (2) clients are using valuable information they learn during our health education programs in their daily lives.

• Social Performance Management principles garner industry attention
  Shon Morris, Friendship Bridge staff member, was invited to present at the Latin American Conference on Village Banking for our exemplarily work with Social Performance Management, affirming our position as a leader in the field.

• Health initiatives
  Data shows that clients appreciate our health programs and are using what they learn.  In an effort to enhance our social impact commitment to our clients, we have partnered with HELPS International, the manufacturer of ONIL Stoves, to facilitate our clients’ transition to safer and healthier stoves that minimize smoke inhalation and burns.  In addition, these stoves reduce wood use by 70%, saving valuable time, money and natural resources.

Lastly, if anyone is interested in traveling to Guatemala to see first-hand the impact these programs have on our clients, consider our next Insight Trip scheduled for November 10-16, 2013.  If you have any questions, please do not hesitate to contact us at 303.674.0717.

All the best,

Karen Larson
Executive Director

We at Friendship Bridge always enjoy welcoming guests into our offices.  Today we received an extra special surprise at the Lakewood office when Betty, a volunteer from Dining for Women, stopped by with a $15,000 grant check to show DFW’s support for Friendship Bridge programs (Betty is pictured with Karen Larsen, Executive Director and Michael Allen, Development Director).  Thank you Dining for Women!  This grant will support many clients in our Microcredit Plus program where women receive both loans and education.

DFW is an educational giving circle whose members meet monthly, learn about featured and sustained programs, and donate to DFW.  All of this allows DFW to support grassroots international programs empowering women and girls living in extreme poverty. They fund programs that foster good health, education, and economic self-sufficiency in developing countries.  They are devoted to educating and inspiring individuals to make a difference and fight global poverty through the power of collective giving, so you can see why Friendship Bridge and DFW make a perfect pair!

Marta Cristina Pérez Carrera lives in Quetzaltenango, the second largest city in Gutemala. Several years ago, Marta Cristina took her three young children and left an abusive marriage. She struggled in the beginning just to meet her and her children’s basic needs.

It wasn’t until Marta Cristina found Friendship Bridge, and took out her first loan of $192, that life started to change for the better. Marta Cristina invested her first loan in a chocolate-making business. She had learned the craft from her mother-in-law but was struggling to earn enough to buy the raw materials to make more product. Though Marta Cristina still has to travel to use her mother-in-law’s chocolate making machine once a week, the loan has allowed her to produce more chocolates. She now sells the chocolates in three different markets.

One of Marta Cristina’s goals is to buy her own chocolate machine so she doesn’t have to rely on her mother-in-law. While she is earning enough income now to keep her children in school, she hopes to return herself to school on the weekends and eventually earn a college degree.

Education has and will always be a signature component of Friendship Bridge programs.  While microcredit provides our clients with a hand up for their businesses, education provides them with an asset for life – skills and knowledge to create sustainable change for themselves, their families and their communities.  Keeping with this approach, in 2012 we inaugurated an advanced training program to help our more seasoned clients grow and diversify their businesses.

[do action=”image-right”]2013/06/CanningClass_Guatemala.jpg[/do]The trainings teach a variety of new business opportunities including advanced agricultural practices, pastry making, and canning.  Since its inception, nearly 400 women have participated in advanced training courses, learning to make new products and earning more income.

“This is learning for life.  I can now teach my family and neighbors these lessons and everyone benefits,” explains Angelica Zaput, a Friendship Bridge client.  Another client, Josefa Torres, is amazed at her own progress, “I began applying what I learned immediately.  I’m a vegetable vendor, and normally what I can’t sell goes bad.  Now, I pickle whatever I have left over to sell.  In just two weeks, I’ve earned an extra 300 quetzals ($38).”

[do action=”image-right”]2013/06/FoothillsCircleDayofGardeningWalsh.jpeg[/do]Each year the Foothills Circle donates three hours of garden labor to the silent auction at the Building Bridges Gala.  Over the years, this has become one of the most popular items at the Gala and we appreciate all the time donated by the green thumbs in Foothills Circle.

There was no rest for them this spring as they have already completed three days with three lucky auction winners.  Last weekend they had a lovely, cool, shady time planting containers, moving perennials, planting new perennials after adding LOTS of natural soil amendments. Now if they could just work some magic to keep the elk and rodents at bay!

This is just one fun, unique way our circles give back to Friendship Bridge.  Keep this beautiful garden picture in mind when bidding at 2014 Building Bridges Gala!

Clients Progress Out of Poverty

Agustina Quisquina Mendoza

[do action=”image-right”]2013/06/Agustina_BeansLR-150×150.jpg[/do]

Agustina Quisquina Mendoza, 51 years old, applied for Microcredit Plus through Friendship Bridge three years ago.  A weaver by trade, she used her loan to buy yarn and a more functional loom.  This small but crucial investment allowed her to produce more textiles, build a base of customers and earn more for her family.  She is now in her third loan cycle with Friendship Bridge and recently attended an Advanced Education course.  Learn about Agustina’s experience in Advanced Education in the 2013 Newsletter.