01 - Nam Ngạn Group
Lan, who is married and has three adult children, owns and operates a food stall. While not the only means of generating revenue, the main source of income for the business is the selling of dried goods in the local community. Lan has been engaged in this business for over five years and earns approximately 2,000,000 VND a month from these activities.
In 2007, she joined Thanh Hoa Fund for Poor Women to gain access to financial services to help improve her living situation and ability to engage in business activities. Lan has already repaid a previous loan of 2,442,600 VND from Thanh Hoa Fund for Poor Women used to invest in expanding the business. She is now requesting a new loan of 6,000,000 VND for additional expansion. This will be Lan’s fourth loan from Thanh Hoa Fund for Poor Women, and she plans to use the additional revenue generated from the business to improve the general living conditions of her family.
About the Other Borrowers in the Group:
1. Ngô Thị Ân is a 56-year-old female who is requesting a 6000000 VND loan to support her business in the food sector making and selling food.
2. P. Thị Mạc is a 63-year-old female who is requesting a 6000000 VND loan to support her business in the agriculture sector raising livestock.
3. M. Thị Hương is a 40-year-old female who is requesting a 6000000 VND loan to support her business in the food sector making and selling food.
4. Vũ Thị Hoà is a 39-year-old female who is requesting a 6000000 VND loan to support her business in the agriculture sector raising crops.
About Thanh Hoa Fund for Poor Women:
The mission of Fund for Thanh Hoa Poor Women (FPW) is to provide sustainable financial services to disadvantaged women in rural areas in the Thanh Hoa province.
*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in Vietnamese while providing quality and accurate information to Kiva lenders.
About Thanh Hoa Microfinance Institution Limited Liability (Thanh Hoa MFI)Thanh Hoa MFI works to provide credit to women and their families in the central Vietnamese province of Thanh Hoa, one of the poorest regions of the country. The institution's target clients are poor and low-income women who have the ability to work but lack the capital. Accordingly, Thanh Hoa MFI prioritizes single mothers, low-income women with children who have dropped out of primary school, and Viet Nam’s poorest women who cannot access any formal financial services.
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