Na Sang 1 Group
Ly and her father and her brother are working as farmers. They're planting rice, cereal, vegetables and coffee, and raising pigs and some other cattle. This is the 4th cycle of loans and she will use the money to rent a machine to level the field they are preparing for the next crop. She says that it's hard to obtain capital to do her business so she's thankful to ACE and Kiva's lenders who help her deal with this problem.
She hopes that her child will complete junior high school and be successful in the future so that her family's life will be improved. In the picture, Ly is standing first from the right.
More information about this loan
Anh Chi Em (ACE) is an International NGO microfinance program that supports vulnerable and marginalized individuals in the severely underserved regions of Dien Bien and Muong Ang District in Dien Bien Province and in Northern Vietnam. Launched in 2007 by the French non-profit Entrepreneurs du Monde, ACE focuses on the financial inclusion of women from marginalized ethnicities and those affected by AIDS.
ACE offers two types of flexible loans alongside a voluntary savings program. The amortizing and bullet loans provide borrowers with key capital at an interest rate of 18%, compared to the national averages of 23.01%. The savings program pays clients 6% returns per annum.
Kiva lender’s funds help ACE to expand its services into new communes and more districts and offer loans to more vulnerable individuals.
This is a Group Loan
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Success!! The loan was 100% repaid