03.5.90 Quảng Hưng Group
Vui is 47 years old and married with two children. She is the leader of a six-member group, the 90 Quảng Hưng Solidarity group. Vui lives with two dependents in Thanh Hoa city, an urban town in Thanh Hoa province.
This is Vui's first loan with Thanh Hoa Fund of Poor Women. Vui has been involved in this business for five years. The main hardship that Vui faces in her business is the lack of capital.
With her business profit, Vui hopes to build a new house. She hopes that her family will be healthy and happy and that her children will find a good job.
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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