Ban Xom Group
Farming is the main business activity which generates income for her family. To have enough money to cover living expenses, she has diversified her production. Thus, besides cultivating rice, she plants vegetables, and breeds pigs, cattle and fish. Despite On's effort to earn money, her son had to drop out of school at grade 10 and her daughter is illiterate. This is her first loan with the Anh Chi Em Program, and she wants to use her portion of the money to buy more fish to compensate for recent damage from a lean harvest.
She hopes that her grandchild will have a more abundant life and will go to college and have a good job with a high salary; then their life will be improved.
Mrs. On is the team leader of Ban Xom Group, which consists of 10 Thai women. In the picture, she's holding a herbaceous branch.
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
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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