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Phuong

Update on Phuong

Phuong is requesting a new loan to buy rice in bulk to stock her store for Tet holiday selling. This purchase will help her to better attract and satisfy her customers. Her previous loan enabled her to improve her business. Phuong hopes that her new loan will help her increase the size of her food stall and increase sales, and will also help her to improve her living conditions.

Previous Loan Details

Phuong, 48-years-old, is married and has two children, a son and a daughter. Her husband earns a living working for a supermarket. Phuong supports her family through the income she earns from selling rice to the people in her community. She began this business three years ago. She lives with her ... More from Phuong's previous loan »

Additional Information

About Capital Aid Fund for Employment of the Poor

Capital Aid Fund for Employment of the Poor (CEP) is a non-profit Vietnamese microfinance institution that operates in the provinces of southeastern Vietnam and the Mekong Delta. CEP's head office is located in Ho Chi Minh City. This institution’s mission is to work with, and for, the poor and poorest to realize sustained improvements in well-being through the provision of financial and complementary non-financial services in an honest, efficient, and sustainable manner. The non-financial services CEP offers to complement its basic credit and savings products include financial education, raising awareness of health and sanitation issues, and education scholarships for children.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

Tags

About Vietnam

  • $5,600
    Average annual income
  • 88
    View loans »
    Vietnam Loans Fundraising
  • $14,461,025
    Funds lent in using Kiva
  • 21,061.5
    Vietnam Dong (VND) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Phuong to buy more rice to stock her store for Tet holiday selling.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 9, 2014
Listed
Jan 14, 2014
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014
This photo was used before for a previous loan for Phuong. It was first posted on Kiva on Apr, 2013. Learn More