08-03-07-Phú Sơn2 Group
Bình has a service business cutting hair, and has been involved in this business for 5 years. The main hardship that Bình faces in her business is the lack of capital. She is requesting a loan to purchase equipment for her hair cutting business.
Bình is the group leader of the 08-03-07-Phú Sơn2 solidarity group, which consists of 7 members. In 2012, Bình joined Thanh Hoa Fund for Poor Women to improve her business. She has successfully repaid two loans from Thanh Hoa Fund for Poor Women.
With her business profit, Bình hopes to buy land of her own, for her family to be healthy and happy, and for her business to do well.
About Thanh Hoa Fund for Poor Women (FPW)Thanh Hoa Fund for Poor Women (FPW) works to provide credit to women and their families in the central Vietnamese province of Thanh Hoa, one of the poorest regions of the country. The institution's target clients are poor and low-income women who have the ability to work but lack the capital. Accordingly, FPW prioritizes single mothers, low-income women with children who have dropped out of primary school, and Viet Nam’s poorest women who cannot access any formal financial services.
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