Cuc is 55 years old. She has two children who are married. Her son is an engineer. She cooks food. Her husband helps her do her job. She earns about 3,000,000 VND per month. She has done this job for five years. Her family’s total income is 3,000,000 VND per month. She has participated in SEDA’s credit program since 2006. In the last loan cycle, she borrowed 8,938,000 VND to expand her food stall and buy seeds to grow fruit trees. In this loan cycle, she wants to borrow 9,810,000 VND to buy fertilizer to plant landscape trees. The profits will help her save money to buy household equipment such as a television, a table and chairs.
Other members who are part in Cuc’s group include the following:
Hang is 31 years old. She has two children. She sells chickens in the market. She wants to borrow 8,938,000 VND to develop her work.
Thu is 38 years old. She has two children. She sells breakfast foods. She wants to borrow 8,938,000 VND to expand her business.
Trang is 31 years old. She has two children. She sells clothes. She wants to borrow 7,630,000 VND to expand her business.
Mai is 35 years old. She has two children. She is a tailor. She wants to borrow 8,502,000 VND to buy cloth.
Dinh is 41 years old. She has two children. She breeds pigs. She wants to borrow 9,810,000 VND to buy pigs.
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.