40 Quãng Hưng Group

Thank you for your loan. It has been disbursed to the Tú Nguyễn Thị group, consisting of Tú Nguyễn Thị, Minh Nguyễn Thị, Thắm Bùi Thị, Tình Phạm Thị, Chiêu Hoàng Thị, Huyền Phạm Thị by Fund for Thanh Hoa Poor Women (TCVM), a partner of Save the Children in Viet Nam. We are excited to watch this business grow. Over the next 5 months, Fund for Thanh Hoa Poor Women (TCVM), a partner of Save the Children will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Chị Nguyễn Thị Tú là nhóm trưởng. Năm nay chị 56 tuổi. Chồng chị là Phạm Nghi Hải, 56 tuổi. Vợ chồng chị sinh được một người con gái, hiện đang học lớp 9. Ngoài 3 sào đất ruộng, chị làm thêm công việc lao công ở thôn, mỗi tháng chị thu nhập được 200.000 VND ~ 11,5 USD. Số tiền này chị dành dụm để nuôi con ăn học. Từ khi chị tham gia chương trình chị được vay mức 1.626.900 VND ~ 93,5 USD để chăn nuôi gà tạo thêm thu nhập cho gia đình đỡ vất vả hơn. Bình quân mỗi con gà con chị mua với giá 5.000VND ~0,287 USD. Vậy với số tiền được vay chị mua được 100 con gà con, số tiền còn lại chị dùng để mua thức ăn cho gà. Sau 4 tháng chị bán trung bình mỗi con gà chị bán được 60.000 VND ~ 3,5 USD. Số tiền lời chị dùng để đầu tư vào chăn nuôi và trang trải chi phí cho gia đình .

- Chị Nguyễn Thị Minh năm nay 42 tuổi, chị vay vốn để tiếp tục đầu tư vào chăn nuôi lợn nái, vịt, gà. Số tiền lời chị chăn nuôi từ chu kỳ vay trước đã giúp gia đình chị đỡ vất vả hơn.

- Chị Hoàng Thị Chiêu năm nay 23 tuổi, chị vay vốn để chăn nuôi gà, vịt. Chị được khuyến khích, chia sẻ kinh nghiệm làm ăn với các chị em trong nhóm. Và bây giờ chị đã có thêm nguồn vốn từ lợi nhuận chăn nuôi gà, vịt.

- Chị Phạm Thị Tình năm nay 49 tuổi, chị vay vốn để chăn nuôi lợn nái. Mỗi năm tiền lời từ chăn nuôi lợn nái chị thu được khoảng 10.000.000VND ~ 575 USD.

- Chị Phạm Thị Huyền năm nay 34 tuổi, chị vay vốn để đầu tư làm nem. Nghề làm nem đã giúp cuộc sống gia đình chị ổn định hơn.

Dear Lender,

Thank you for supporting the Fund for Thanh Hoa Poor Women!

The Fund for Thanh Hoa Poor Women (FPW) is a relatively new partner to the Kiva platform, having posted its first loan in November 2008. Since then, FPW staff have worked diligently to integrate Kiva into their operations and we are happy to announce that FPW has recently been approved for active field partner status on Kiva! Expect to see an increase in FPW activity on Kiva.org over the next few months.

Since February 2009, I have been serving in Thanh Hoa as a Kiva Fellow, assisting FPW through this process. Now that I’m at the end of my fellowship, I would like to share a simple revelation. What I have discovered through meeting and speaking with the borrowers here is that although the current financial crisis may suggest otherwise, finance, and in this case microfinance, in Thanh Hoa, is not always that dramatic. I am not leaving here as expected, with hallmark stories of adversities conquered, but I have met real women and seen how these simple, elegant loans return to them a small but significant power.

The need and impact of micro loans is known to differ from borrower to borrower. FPW’s clients represent women with differing circumstances and vary in the degree to which their loans have impacted their life. This microfinance mosaic of users, uses and value is well represented by the women from Group 41 Quang Hung, one of the first groups that I visited in Thanh Hoa.

Ms. Vũ Thị Kim Chung is the leader of Group 41 Quang Hung Commune and represents one end of the spectrum. Ms. Chung, like most Vietnamese women, engages in multiple income producing activities. She is primarily a worker in Le Mon Industrial Zone, working 18-20 days a month, transporting fertilizer on and off train cars and earning a relatively high income of ~1.800.000 VND ($103 USD) per month. The work is hard and she sounds like someone who understands the weight of world finances when she states plainly that “it’s a job” and she’s grateful for it. Although her family could survive without any additional income, Ms. Chung still chose to take out a loan and increase her workload voluntarily to, on a good day, earn an additional ~60.000 VND ($3.50 USD) by selling fruit and raising animals.

On the other end of the spectrum, you have Ms. Hương Nguyễn Thị. Ms. Hương lives in the same commune as Ms. Chung but her economic position is quite different. Ordinarily, she works in her family’s woodworking shop and raises animals for resale. Together, the family is able to generate sufficient income. This past year, however, her family has faced extraordinary circumstances, with her eldest son (aged 4) falling ill with an ocular condition in April 2008. The family traveled to Hanoi for treatment, only to find that their son was too young to have the surgery. Although her son’s base medical expenses were covered by the government, the costs of transportation, accommodation and food were left to the family. Her previous loans from FPW and this most recent loan from Kiva have helped her and her family manage these sudden expenses.

Reflecting on the two loans above, Ms. Hương’s story is more akin to those you read in Muhammad Yunus’s books, but Ms. Chung’s story is the norm here at FPW. The loan has not saved her from starvation, homelessness or illness, but has simply given her the option to earn a little more. Though a seemingly small return on her investment, it represents her hard work and most importantly, access to the resources and right to earn it.

Thank you again for providing the capital to lend to women in Thanh Hoa! Please consider lending to one of the currently fundraising loans from FPW.