Tuc and her husband are farmers. Not only does she grow rice but she also raises pigs and poultry and sells vegetables. She has a monthly income of about 3.000.000 Vietnamdong (VND). The last time she received a loan, she borrowed 5.152.000 VND and repaid this loan punctually. This is the second time she has borrowed from SEDA. In this loan cycL., she would like to borrow 7.392.000 VND to buy vegetables to sell. She is the leader of an eight member group requesting a loan from SEDA.
The other borrowers in the group are: Nam, age 58, who wants to borrow 7.392.000 VND to breed pigs; Thanh, age 26, and Ha, age 21, who each want to borrow 7.392.000 VND to buy chicken feed; Xuan, age 47, who wants to borrow 7.392.000 VND to buy pigs; Ai, age 32, who wants to borrow 5.152.000 VND to breed pigs; Muon, age 51, who wants to borrow 5.152.000 VND to buy pig feed and Mai, age 46, who wants to borrow 7.392.000 VND to buy pig feed.
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