Na Tau 5 Group
They rely on agricultural production for a living and cultivate rice and canna and breed pigs. Despite their effort, the income was not enough to cover their living expense and tuition fee. Her husband works extra for local construction employers.
In order to have more earnings, Thuong intended to expand her business but she had difficulty due to lack of capital. At the same time, she was introduced to Anh Chi Em Program about its activities, which contained financial and non-financial support. She has been very interested in taking part in those. This is her first loan in the Program and she will use the loan to buy piglets.
Thuong believes that, together with the training on agriculture techniques, she could enhance productivity and the quality of her agriculture products. This would improve considerably her family's income. When it succeeds, she will buy some new furniture for the house and new toys for her child.
Thuong stands first from the right in the photo.
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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