04.10.19- Giang Sơn - Hoằng Trường Group
Cúc is married and has three school-aged children. To making a living, Cúc operates a family member's business venture in the food sector operating a fishing business. While not the only means for generating revenue, the main source of income for the business comes primarily from harvesting and selling wild-caught fish in the local community. Cúc has been engaged in this business for over 20 years and earns approximately 2,500,000 VND a month.
In 2006, Cúc joined Thanh Hoa Fund for Poor Women to gain access to financial services to help improve her living situation and ability to engage in business activities. Cúc has successfully repaid a previous loan of 5,000,000 VND, which was used to invest in expanding her business. She is requesting a new loan of 7,000,000 VND, which will be used to invest in expanding the business. The loan will be Cúc's seventhth loan from Thanh Hoa Fund for Poor Women. Cúc plans to use the additional revenue generated from the business to improve and expand her business.
About the Other Borrowers in the Group:
1. Thanh is 33 years old and is requesting a loan of 7,000,000 VND to support her business in the food sector operating a fishing business.
2. Mai is 36 years old and s requesting a loan of 7,000,000 VND to support her business in the food sector operating a fishing business.
3. Tròn is 57 years old and is requesting a loan of 7,000,000 VND to support her business in the food sector operating a fishing business.
4. Hường is 47 years old and is requesting a loan of 7,000,000 VND to support her business in the food sector operating a fishing business.
5. Cành is 26 years old and is requesting a loan of 7,000,000 VND to support her business in the food sector operating a fishing business.
6. Lâm is 32 years old and is requesting a loan 7,000,000 VND to support her business in the food sector operating a fishing business.
About Thanh Hoa Fund for Poor Women:
The mission of Fund for Thanh Hoa Poor Women (FPW) is to provide sustainable financial services to disadvantaged women in rural areas in the Thanh Hoa province.
*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 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