Thuy is 36 years old. She has three children. Two of them are attending school, in the fifth and eighth grades. The other one is still little. Her husband earns his living as a carpenter. He earns about 5,000,000 VND per month. Thuy goes to the market to sell cinnamon. She earns 4,000,000 VND per month. She has done this job for five years. Her family’s total earnings are about 9,000,000 VND per month. Her challenge in life and work is a lack of knowledge of how to do business. She wishes she would have a modern house in the future. This loan will help her attain this dream. She can invest in her business to earn more. Thuy is a hard-working woman. This is the first time she is participating in SEDA's microfinance program. In this loan cycle, she wants to borrow 5,014,000 VND to buy more cinnamon to sell.
Other members who are part of Thuy's group include the following:
Dung is 51 years old. She has three children. She is a seller. She wants to borrow 6,322,000 VND to sell dogs and cats as pets in a market.
Huong is 32 years old. She has two children. She is a carpenter. She wants to borrow 5,014,000 VND for carpentry.
Hong is 35 years old. She has two children. She is a carpenter. She wants to borrow 5,014,000 VND for carpentry.
Lien is 29 years old. She has two children. She raises chickens. She wants to borrow 5,014,000 VND to buy more chickens to raise.
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.