She has participated in SEDA's credit program since 2008. In this new loan cycle, she would like to borrow VND 6,048,000 to buy medicine for her pharmacy.
Other members who are part of Hai's group include the following:
• Them was born in 1973. She has 3 children. She would love to borrow VND 10,976,000 to invest in her grocery shop.
• Hoa was born in 1976. She has 2 children. She wants to borrow VND 8,736,000 to buy rice for the purpose of making rice paper.
• Ty was born in 1955. As Ty is a weaver, Ty would love to borrow VND 6,496,000 to buy bamboo.
• Dao was born in 1963. Dao would like to borrow VND 8,736,000 to buy soya beans to invest in her family business which is producing soy sauce.
• Tuoi was born in 1985. She is a carpenter. Tuoi would like to borrow VND 5,152,000 to buy wood.
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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