Mrs. Ngân works in agriculture, raising poultry and cattle. She is applying for a loan to buy chicks to raise and then sell in the future. Ngân is 48 years old. She is married and has two children. Ngân is the group leader of the 3.14.290.9.Thiệu Khánh solidarity group, which consists of seven members. One of her children is grown, so Ms. Ngân supports one dependent with her business, located in Thieu Hoa district, a rural town in Thanh Hoa province. In 2012, Ngân joined Thanh Hoa Fund for Poor Women to improve her business. Ngân has successfully repaid two loans from Thanh Hoa Fund for Poor Women. Ngân has been involved in this business for more than 10 years. One of the most critical business difficulties that concerns her is a lack of capital. With her business profits, Ngân hopes for her business to do well, to maintain a successful business, and to be able to buy more supplies and equipment for her business.
About Thanh Hoa Microfinance Institution Limited Liability (Thanh Hoa MFI)
Thanh Hoa MFI works to provide credit to women and their families in the central Vietnamese province of Thanh Hoa, one of the poorest regions of the country. The institution's target clients are poor and low-income women who have the ability to work but lack the capital. Accordingly, Thanh Hoa MFI prioritizes single mothers, low-income women with children who have dropped out of primary school, and Viet Nam’s poorest women who cannot access any formal financial services.
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.