Quang is requesting a 12,426,000 VND loan to buy building materials to sell. She is a member of a group loan. Other members include: Thuy, who is 24 years old, and is requesting 5,886,000 VND to become a driver in a taxi company; Sinh, who is 61 years old with a child, who wants to borrow 7,194,000 VND to become a driver in a taxi company; Nhung, who is 24 years old, recently married, and who wants to borrow 5,014,000 VND to repair her house; Lien, who is 54 years old with two children, and who wants to borrow 5,014,000 VND to buy materials for sewing; Xuan, who is 50 years old with two children, who wants to borrow 11,554,000 VND to by pigs and chickens to raise; and Nhuan, who is 53 years old with a child, who wants to borrow 11,554,000 VND to buy building materials to sell.
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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