Mui cooks food to sell. Her income is about 3,500,000 VND. She has done this job for seven years. Her family’s total income is 7,500,000 VND per month.
Mui has participated in SEDA’s credit program since 2007. In the last loan cycle, she borrowed 8,502,000 VND to breed chickens and dogs, and to grow fruit trees.
In this loan cycle, she would like to borrow 8,502,000 VND to buy food for chickens and dogs, and to buy ingredients to cook food. She can gain earnings and save the profit so the children grow up well, and to buy household equipment.
Other members who are part in Mui’s group include Xuyen, who is 55 years old, with two children. She sells fish in the market, and she wants to borrow 8,502,000 VND to develop her work.
Xuyen is 53 years old, with two children. She sells groceries, and wants to borrow 7,630,000VND to develop her work.
Ly is 48 years old, with two children. She breeds chickens, and wants to borrow 10,246,000 VND to buy food for the chickens.
Lanh is 45 years old, and she wants to borrow 9,810,000 VND to invest in her business.
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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