Her family main income is animal husbandry. Despite difficult circumstances, she alone feeds her son who grows up and overcome many difficulties. Her only son is 21 years old and enrolling at Northwestern University. Her family incurs much expense due to covering for her son’s education. She wants to borrow a loan to cover costs of school for her son.
During participating in borrowing loans and repayments before, she and 4 other members of the group always use loans for the right purposes and effectively.
With the loan from the institution, she desires her only son to have a full condition for studying, and she will be very proud of him is fully educated despite any drudgery works.
About M7-MFI:M7-MFI is a microfinance institution in Vietnam that is focused on serving poor women and ethnic minorities in the northern part of the country.
Serving more than 21,000 clients, M7-MFI provides savings and loan programs for a number of catalytic areas including vulnerable populations, education, disaster recovery, and water/sanitation. In addition, the organization regularly provides gender education and business consulting services, and builds homes for low-income clients.
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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This loan has been fully funded!