She is the group leader of a four- member group loan. Since 2004, she has belonged to SEDA and has repaid her loans punctually. This cycL., she wants to borrow 7,630,000 VND (400 USD) to buy more fresh fruit and vegetables for her shop, to attract more customers. She wants to buy a new motorbike that she will use for deliveries.
About other borrowers in her group:
Hien T. N. is 29 years old. She lives in a family with 3 generations, but the main income is made by her and her husband. Everyday, she has to wake up early to make vermicelli to sell at the local market. She can earn 100.000 vn dong of profit per day. Her husband is a mechanic and he has a stabL. salary. Currently, she needs 8,066,000 VND(424 USD) to buy a machine to use for making vermicelli.
Dien T. N. is 29 years old. She has 2 children who are attending junior school and high School. She has a 7200 sqm paddy to grow rice and vegetables. After her time in the field, she raises pigs and chickens. Her husband is a seasonal employee. Therefore, their income is quite stabL.. She wants to borrow 6.322.000 VND(350 USD) to expand her livestock raising.
Loi V. N. is a 31 year-old farmer. He is living with his wife and one son in Xuan Non commune. He raises chickens (for eggs) and pigs. The merchants in the neighbouring area come to him to buy livestock to raise, in wholesaL.. Besides this business, he is also a constructor, so he has considerabL. income to manage his family. Currently, he needs 6,322,000 VND(350 USD) to have an amount of money to buy food for his poultry.
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