Hoàng Thị's Group
Bac is married and has two school-age children. To making a living, Bac operates a family member's business of raising chickens for sale. Bac has been in business for over two years and earns approximately 4.000.000 VND a month.
In 2004, Bac joined SEDA to gain access to financial services to help improve her living situation and ability to engage in business activities. Bac has successfully repaid a previous loan of 5.300.000 VND from SEDA. This previous loan was used to invest in expanding the business. She is now requesting a new loan of 6.322.000 VND, which will also be used to invest in expanding the business. The loan will be the sixth loan taken out by the borrower from SEDA. Bac plans to use the additional revenue generated from the business to improve/expand the business.
About the Other Borrowers in the Group:
1. Bui Thi C., 55, is requesting a 5.014.000 VND loan to support her business of making and selling food.
2. Nguyen Thi Lai, 53, is requesting a 4.578.000 VND loan to support her business of raising crops.
3. Dong Thi Nam, 30, is requesting a 4.578.000 VND loan to support her business of raising crops.
4. Tran Thi H., 27, is requesting a 2.668.000 VND loan to support her business of providing recycling services.
The mission of SEDA (Center of Small Enterprise Development Assistance) is to provide microfinance services to the low income and disadvantaged people in rural areas of Hanoi and the Northern provinces of Vietnam.
*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 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