Dinh Dung's Group
(This group has applied, and been posted under ID number 50849 before but with a wrong amount of loan. Now, this group is re-posted with the current ID. The actual amount of loan is 650 USD.)
Translated from Vietnamese by Duy Hua, Kiva volunteer.
Chú Nguyễn Đình Dũng (MS: 020027), năm nay 50 tuổi. Chú vay 2.478.000 VND về mua lợn chăn nuôi. Ngoài chăn nuôi gia đình chú còn trồng hoa màu, con chú bán hàng ở chợ. Mức thu nhập của gia đình chú là 110.000 VND/ ngày. Chú đã tham gia được 1 chu kỳ vay vốn và đã hoàn trả xong.
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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