Mrs Trang has a restaurant where she sells rice and noodles. Every day she has to get up early and go to the market to buy goods for her restaurant. She has run her restaurant for three years and makes a monthly income of about 4,500,000 Vietnamdong (VND). Since 2007 she has participated in Kiva partner, SEDA. For her last loan she borrowed 6,758,000 VND and repaid it punctually. For this loan, she would like to borrow 8,066,000 VND to buy more rice and noodles for her restaurant.
Trang is the leader of a five-member SEDA group. The other borrowers in the group are:
Dung is 26 years old. She has two children. She wants to borrow 7,194,000 VND to buy food for pigs.
Hien is 36 years old. She wants to borrow 7,194,000 VND to invest in her store.
Vinh is 55 years old. She wants to borrow 5,886,000 VND to buy pork to resell.
H. is 43 years old. She wants to borrow 7,630,000 VND to buy food for 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