Viet has been a taxi driver for three years, and he earns about 3,000,000 VND per month. This couple also raises chickens to earn more money. His dream is to enlarge his chicken farm, but his challenge is lack of capital to invest in it. This loan is one of the steps which will help him to reach this dream. Viet is a hardworking and careful man.
He has participated in SEDA's credit program since 2012. In the last loan cycle, he borrowed 5,014,000 VND and repaid on time. In this loan cycle, he would like to borrow 6,322,000 VND to buy more chickens for his farm.
Other members which are part of Viet's group include the following:
Thao is 25 years old. She has a child. She is a farmer. She wants to borrow 6,322,000 VND to raise chickens.
Khanh is 37 years old. She has a child. She is a vegetable seller. She wants to borrow 6,322,000 VND to buy vegetables for her stall.
Anh is 29 years old. She has two children. She is a seller. She wants to borrow 7,630,000 VND to sell clothes.
Trung is 28 years old. He has a child. He sells fish to earn a living. He wants to borrow 5,014,000 VND to sell more fish.
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