Hien was born in 1967. She has three children who have their own families. Her husband is a driver of a passenger car. His income is about 5,000,000 VND per month. Hien makes package to earn a living. She has done this job for 20 years. She earns about 3,500,000 VND per month. Her family’s total income is about 12,000,000 VND per month. Her challenge in work is lacking capital to buy more materials to make package. Her dream is her business to be more favorable and her house more spacious. This loan is one steps toward helping her reach her dream. Hien is a hard-working woman.
She has participated in SEDA’s credit program since 2008. In the last loan, she borrowed 9,632,000 VND and repaid it on time. With this loan, she wants to borrow 10,080,000 VND to buy more materials to make bags. She wants to expand her business scale.
The other member of Hien's group is Xoa, who is 31 years old and has two children. She is a carpenter and wants to borrow 5,152,000 VND to buy more wood for her carpentry workshop.
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.