Besides that, Thi also helps her husband with his work. Her challenge in work is lacking capital for her business. Her dream is having more capital to invest in her business and her children having a stable job. This loan is one of the step that helps her reach this dream. She is a hardworking woman.
This is the first time Thi has participated in SEDA’s microfinance program. In this loan cycle, she wants to borrow 5,014,000 VND to buy more coconuts and vegetables to sell in the market.
The other members who are part of Thi’s group include the following:
Tuyen is 39 years old. She has a child. She cooks food to sell. She wants to borrow 5,014,000 VND to invest in her business.
Quynh is 24 years old. She has a child. She sells clothes in the market. She wants to borrow 5,014,000 VND to sell breakfast.
Thanh is 54 years old. She has four children. She cooks breakfast to sell in a market. She wants to borrow 5,014,000 VND to invest in her business.
Dung is 51 years old. She has two children. She is a motorbike keeper. She wants to borrow 5,014,000 VND to expand 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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Success!! The loan was 100% repaid