030811-Tây Xuân Vi-Hoằng Thanh-Hoằng Hoá Group
Huyền is 40 years old, and she is married with two dependent children. She is the leader of a six-member group, the 030811-Tây Xuân Vi-Hoằng Thanh-Hoằng Hoá solidarity group. She lives and works in Hoằng Hóa district, a rural area in Thanh Hoa province.
In 2010, Huyền joined the Fund for Thanh Hoa Poor Women (FPW) to improve her business, and she has successfully repaid two loans from FPW. Huyền has been involved in this business for two years, and the main hardship that she faces is a lack of capital.
In the future, Huyền hopes to buy land of her own, to buy more supplies and equipment for her business, and for her family to be healthy and happy.
About Thanh Hoa Fund for Poor Women (FPW)Thanh Hoa Fund for Poor Women (FPW) 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, FPW 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