Mai is a leader of an 8-member group loan offered by SEDA. While each member of the group receives an individual loan, they all are responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Mai needs a loan in the amount of 5.014.000 VND to expand her product offerings.
About the Other Borrowers in the Group:
* Chung Thị Nguyễn was born in 1952. She is a farmer who breeds pigs and poultry. She has 3 children. She has a monthly income of about 3.500.000 VND. She wants to borrow 6.322.000 VND to buy food for pigs.
* Toán Thị Nguyễn was born in 1952 and she has one child. She sells paper goods and earns a monthly income of about 2.500.000 VND. She wants to borrow 4.578.000 VND to buy more paper.
*Thoa Thị K. Trương was born in 1957. She sells sundries. She wants to borrow 7.630.000 VND to invest in her store.
*Lam Thị Nguyễn was born in 1975 and has two children. She wants to borrow 5.014.000 VND for retailing purposes.
*Huệ Bích Nguyễn was born in 1976 has two children. She wants to borrow 6.758.000 VND to invest in her music CD shop.
*Hay Thị Vũ was born in 1968. She wants to borrow 5.014.000 VND (or 280 USD) to expand her product offerings.
*Phương Thị Nguyễn was born in 1971 and she has three children. She wants to borrow 6.758.000 VND to buy rice to make rice cakes.
About SEDA:The Center of Small Enterprise Development Assistance (SEDA) is a non-profit organization whose vision is to create “a society without poverty.” Founded in 2004, SEDA provides microfinance services to low-income and disadvantaged people in rural areas of Hanoi and the northern provinces of Vietnam through its Binh Minh Micro-Finance Program.
You can also join SEDA’s lending team to assist SEDA in continuing to support its portfolio of borrowers.
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