41-Quảng Hưng Group
Mrs Chung is the lead borrower of the group. She is 37 years old, and has a husband and children. During the day, she works in the Le Mom Industrial Zone.
As with her previous loans, all of which have been fully repaid, Mrs Chung will use the funds from this loan to buy and raise pigs and chickens. Her share of the loan will probably be sufficient to buy 3 pigs and 50 chicken. With the profits from selling eggs and the animals themselves, she intends to improve her family’s life.
The loan will be split equally between all five borrowers. The other borrowers in the group will use their share of the loan for similar purposes.
Mrs. Hoa is borrowing 2.761.200 Vietnam dong (~ $163 USD) to buy cows.
Mrs. Duong is borrowing to buy food and vegetables for pigs.
Mrs. Dam is borrowing to buy chicken and ducks.
Mrs. Huong is borrowing to buy pigs.
About Thanh Hoa Microfinance Institution Limited Liability (Thanh Hoa MFI)Thanh Hoa MFI works to provide credit to women and their families in the central Vietnamese province of Thanh Hoa, one of the poorest regions of the country. The institution's target clients are poor and low-income women who have the ability to work but lack the capital. Accordingly, Thanh Hoa MFI prioritizes single mothers, low-income women with children who have dropped out of primary school, and Viet Nam’s poorest women who cannot access any formal financial services.
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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