Van sells clothes in a market. She earns about 3,000,000 VND per month. She has done this job for more than a year. Her family’s income is about 9,000,000 VND per month. Her challenge in work is that she is lacking capital to buy more modern clothes and have a stable selling place. Her dream is having a clothes shop in the market center. This loan is one of the steps to help her reach this dream. She can buy more clothes then will sell them to increase her earnings and save profit for her dream. She is a hardworking woman and has a passion for business.
She has participated in SEDA’s credit program since 2013. In this first loan cycle, she would like to borrow 5,152,000VND to buy more clothes to sell.
Other members who are part of Van’s group include the following
- Sinh is 26 years old. She has two children. She sells vegetables and fruits. She wants to borrow 5,152,000 VND to invest in her business;
- Nghia is 30 years old. She has two children. She sells vegetables and fruits. She wants to borrow 5,152,000 VND to invest in her business;
- Thao is 34 years old. She has four children. She sells vegetables and fruits. She wants to borrow 5,152,000 VND to invest in her business;
- Vinh is 55 years old. She has four children. She sells meat. She wants to borrow 5,152,000 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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