10 Đông Sơn Group
Hà is married and has three school-age children. To making a living, Hà owns and operates a business making and selling food. While not the only means for generating revenue, the main source of income for the business comes from selling rice products in the local community. Hà has been engaged in this business for over five years and earns approximately 2,000,000 VND a month from these activities.
In 2008, Hà joined Thanh Hoa Fund for Poor Women to gain access to financial services to help improve her living situation and her ability to engage in business activities. Hà has successfully repaid a previous loan of 1,963,500 VND from Thanh Hoa Fund for Poor Women. This previous loan was used to purchase additional products to sell. She is now requesting a new loan of 6,000,000 VND, which will be used to purchase raw ingredients needed to make products for sale. The loan will be the third loan taken out by the borrower from Thanh Hoa Fund for Poor Women. Hà plans to use the additional revenue generated from the business to pay her children's tuition fees.
About the other borrowers in the group:
1. N. Thị Thương (246) is a 27-year-old female who is requesting a 6,000,000 VND loan to support her service-based business.
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