Her challenge in life and work is lacking capital to buy more clothes to expand her business. Her dream is to open her own clothes shop. This loan is one of the steps that helps her reach this dream. She will have money to pay her children’s education fee and can enlarge her business.
Hien is a hardworking woman. This is the first time she participates in SEDA’s microfinance program. In the first loan cycle, she wants to borrow 5,152,000VND to buy more clothes to expand her business. She wants to gain earnings and save profit to grow her children up well.
Other members who are part of Hien’s group include the following:
Lan is 25 years old. She has two children. She sells building materials. She wants to borrow 6,944,000VND to invest in her business.
Sau is 26 years old. She has two children. She sells tea and beverages. She wants to borrow 6,944,000VND to invest in her beverage stall.
Van is 52 years old. She has three children. She sells tea and beverages. She wants to borrow 5,152,000VND to invest in her beverage stall.
Lan is 34 years old. She has two children. She is a worker. She wants to borrow 8,288,000VND to repair her house.
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