Mrs. Minh earns a living by raising poultry and cattle, and is requesting this loan to buy more livestock to add to her herd. She is 43 years old, married and the mother of two children. She also leads a four-person loan group which is called 08-PT2-07-Phú Sơn2 Solidarity. She lives and works in Thanh Hoa city, a urban part of Thanh Hoa province. In 2011, Minh joined the Thanh Hoa Fund for Poor Women to improve her business, and has successfully repaid three previous loans. She has been in her current line of work for seven years and her main business challenge is a shortage of capital. Minh hopes to earn enough money to have a healthy and happy family, educate her children so they can get good jobs, and build a new house.
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.