Quế is 37 years old and married with two children. She lives and works in Thieu Hoa district, a rural area in Thanh Hoa province. For the past 10 years, Quế has worked in agriculture, farming poultry and cattle. One of her most critical business difficulties is the lack of capital.
Quế is the leader of the 3.18.344.1.Yên Thọ solidarity group which consists of four members. This is Quế’s first loan with the Thanh Hoa Fund for Poor Women. She will use her portion of their group loan to purchase baby poultry to raise and sell in the future. Quế will use the profit from her loan to make enough money to provide for her kids, to maintain a successful business, and be able to buy more business supplies and equipment.
About Thanh Hoa Microfinance Institution Limited Liability (Thanh Hoa MFI)
Thanh Hoa MFI 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, Thanh Hoa MFI 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.