Huyền is 18 years old and is married with no children. She lives in Thanh Hoa city, an urban town in Thanh Hoa province. For the past three years, Huyền has operated a food stall where she sells fruit. She is the group leader of the 13.02.03 - Quảng Thành solidarity group, which consists of three members. This will be Huyền’s first loan. Her major business hardship is her lack of capital.
Huyền is requesting a loan to purchase fruit to resell. She hopes that her loan will help her business to do well and she hopes that her family will be happy and healthy and able to travel within the country for vacation.
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.