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Phung's Group
In this Group: Phung, Ly, Nga, Oanh, Thanh, Chung, Thon*
* not pictured
Nga is 62 years old and lives with her son and her husband. For the past 24 years Nga has been running a general store from the front of her house to earn an income to support her family. She is the group leader of a seven-member loan group that lives in Ho Chi Minh City. In the picture, she is wearing a white blouse.

Each of the other group members are requesting loans to fund income-generating activities. Nga is requesting a loan to purchase a better quality and greater variety of products such as food and beverages to restock her store. She hopes this will enable her to better meet the needs of her customers and attract additional ones. She also hopes that through her loan, she will be able to increase her income and save money for any future difficulties facing her family.

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.

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.

Tags

About Vietnam

  • $725
    Average annual income
  • 69
    View loans »
    Vietnam Loans Fundraising
  • $12,926,025
    Funds lent in using Kiva
  • 21,092.5
    Vietnam Dong (VND) = $1 USD

Success!! The loan was 100% repaid

A portion of Phung's Group's $3,800 loan helped a member to buy household items and soft drinks to restock her store.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 4, 2014
Listed
Mar 14, 2014
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2015