18-4-78 Quảng Hưng Group
Tương is widowed and has four adult children. To make a living, Tương raises ducks for sale. Tương has been engaged in this business for over 15 years and earns approximately 700,000 VND a month from these activities.
In 2011, Tương joined Thanh Hoa Fund for Poor Women to gain access to financial services to help improve her business and living situation. Tương is requesting her first loan from Thanh Hoa Fund for Poor Women. She is requesting a loan of 4,248,000 VND, which will be used to purchase breeding livestock. Tương plans to use the additional revenue generated from the business to supplement the family's income.
About the other borrowers in the group:
1. P. Thị Chăm (107) is a 39-year-old woman who is requesting a 4,248,000 VND loan to support her business of making and selling food.
2. T. Thị Hằng (108) is a 29-year-old woman who is requesting a 4,248,000 VND loan to support her business of raising livestock.
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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