Hm - Ta Let 2 Group
Her family's main earnings come from agricultural production and the core livelihood strategy is diversifying farming activities, such as: planting rice, vegetables and cassava, and keeping 20 chickens, six pigs and a buffalo for plowing. Because of bad weather last year, she had a poor crop. Despite the difficulties in life, she still sends her children regularly to school.
Thanh wants to take out a loan from Anh Chi Em to cover the expense of leveling the field. She hopes that through this loan and the training sessions of ACE, the yield will increase and accordingly, her income will be improved. Thanh dreams of a better future for her children.
In the picture, Thanh is wearing Thai traditional clothes with a pink shirt and standing at the far 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
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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