Y's challenge in work is a lack capital to buy a wood cutting machine, and to buy more wood. She wants to open her own woodworking shop. Her dream is to enlarge her carpentry business with all the machines to do the work most efficiently, and her children would work at the family's own carpentry workshop, established by their mother. This loan is one step helping her to reach for her dream. Y is a hardworking woman.
She participated in SEDA’s credit program since 2012. In the last loan cycle, she borrowed 5,152,000 VND to perform carpentry work, and she repaid on time. In this loan cycle, she wants to borrow 7,392,000 VND, which she will use to buy wood for her carpentry workshop. This purchase will enable her to gain earnings and save profit, to build a home.
Other members who are part of Y’s group include the following:
Truyen is 39 years old. She has two children. She is a laborer. She wants to borrow 5,152,000 VND to breed pigs.
Nga is 30 years old. She has two children. She is a carpenter. She wants to borrow 5,152,000 VND to make carpentry.
Nga is 26 years old. She is a carpenter. She wants to borrow 5,152,000 VND to make carpentry.
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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Success!! The loan was 100% repaid