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Hong

Update on Hong

Hong is requesting another loan to buy a range of new products, such as food and beverages, to restock her general store. This purchase will help her to better meet the needs of her customers. Her previous loan enabled her to improve her business and offer her customers a greater variety of products. She hopes that this loan will assist her in increasing the size of her store and increase sales, and will also help her to improve her living conditions.

Previous Loan Details

Hong is a 34 year old married woman living in Ho Chi Minh City. She has 2 children. Hong earns a living by running a general store, which she has done for 8 years. Hong would like to take loan to buy a greater variety and quantity of basic goods, such as snack foods and confectionery, to stock he... More from Hong'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

  • $725
    Average annual income
  • 130
    View loans »
    Vietnam Loans Fundraising
  • $13,209,000
    Funds lent in using Kiva
  • 20,950.0
    Vietnam Dong (VND) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Hong to buy a range of new products, such as food and beverages, to restock her general store.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 7, 2013
Listed
May 22, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014
This photo was used before for a previous loan for Hong. It was first posted on Kiva on Aug, 2012. Learn More