Thúy is a 28-year-old, married woman living in Yen Phong district in Bac Ninh province. Thúy and her husband have two school-age children. To earn a living, Thúy owns and operates a business venture in the services sector. More specifically, her primary source of income is derived from providing medicinal services to local community members. Thúy has been engaged in this business for over 3 years and earns approximately 3,200,000 VND per month from these activities.
In 2008, Thúy joined SEDA to gain much-needed access to financial services. In turn, she was better able to engage in business activities and to thereby improve her family's standard of living. Recently, Thúy successfully repaid a previous loan in the amount of 8,288,000 VND from SEDA. That prior loan was used to purchase additional inventory and for working capital purposes. She is now requesting another loan, this time in the amount of 5,152,000 VND, which will be used to invest in expanding her business. Notably, this loan would be the fourth loan taken out by Thúy from SEDA. Thúy plans to use the additional revenue generated from the business as a result of the loan to pay her children's tuition fees.
The following is a brief summary of the other borrowers in the group: (1) Tỉnh is a 33-year-old woman who is requesting a 7,392,000 VND loan to support her manufacturing business (she has a furniture-making business, where she makes things such as tables, chairs, beds, and wardrobes); (2) Dung is a 36-year-old woman who is requesting a 7,392,000 VND loan to support her retail business (she has a specialized retail store, where she sells goods such as rice, flour, and tea); (3) Hanh is a 46-year-old woman who is requesting a 5,152,000 VND loan to support her food sales business (she makes and sells foods such as rice noodles); (4) Dung is a 32-year-old woman who is requesting a 4,256,000 VND loan to support her manufacturing business (she has a furniture-making business, where she makes beds, wardrobes, etc.); and (5) Ngau is a 42-year-old woman who is requesting a 7,392,000 VND loan to support her retail business (she operates a specialized retail store, where she sells SIM cards and phones).
About SEDA: The mission of SEDA is to provide microfinance services to the low-income and disadvantaged people in rural areas of Hanoi and the Northern provinces of Vietnam.
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