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Cuong

Update on Cuong

Cuong would like to take out another loan to buy a large quantity of onions to sell. Cuong's previous loan enabled him to increase his sales and earn a higher income to support his family. He hopes that a second loan will both increase sales and the size of his business, as well as attract new customers. He also hopes that through this loan he can increase his income and improve his family's living conditions.

Previous Loan Details

Cuong, 48 years old, is married and has three children; two daughters and one son. Cuong and his wife support their family through the income they earn from cleaning, sorting and preparing spring onion bulbs. They have run this business for five years. They live in Ho Chi Minh City. Cuong int... More from Cuong's previous loan »

Additional Information

About Capital Aid Fund for Employment of the Poor

Capital Aid Fund for Employment of the Poor (CEP) is a non-profit Vietnamese microfinance institution that operates in the provinces of southeastern Vietnam and the Mekong Delta. CEP's head office is located in Ho Chi Minh City. This institution’s mission is to work with, and for, the poor and poorest to realize sustained improvements in well-being through the provision of financial and complementary non-financial services in an honest, efficient, and sustainable manner. The non-financial services CEP offers to complement its basic credit and savings products include financial education, raising awareness of health and sanitation issues, and education scholarships for children.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Vietnam

  • $5,600
    Average annual income
  • 120
    View loans »
    Vietnam Loans Fundraising
  • $14,469,900
    Funds lent in using Kiva
  • 20,824.7
    Vietnam Dong (VND) = $1 USD

Success!! The loan was 100% repaid

A loan of $675 helped Cuong to buy a large quantity of onions to sell.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 30, 2013
Listed
Feb 4, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013
This photo was used before for a previous loan for Cuong. It was first posted on Kiva on May, 2012. Learn More