Ban Kha Group
Phien has been a farmer since she was a child. Presently, she works at lots of agriculture production including cultivating rice, vegetables, raising chickens and pigs, which brings a monthly income of approximately VND 5,000,000. Not only that, her husband also works in construction for local employers to have enough money for living expenses and make some savings for rebuilding the house. She said she would use the loan this cycle from Anh Chi Em to buy food and vaccines for pigs. She hopes that after using the loan and the knowledge from ACE training, she could improve her family income.
Phien and her partner are both illiterate, they do not want their child to be a farmer. She dreams that her kid would become an officer working in state.
In the picture, Phien is wearing a wool cap with a branch in her hands.
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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Success!! The loan was 100% repaid