Nhóm 01 Thôn 1 Thống Nhất - Quảng Vinh Group
Ven is the leader of a seven-member loan group, the Nhóm 01 Thôn 1 Thống Nhất - Quảng Vinh solidarity group. She is applying for a loan to buy more tools and supplies for farming rice. This is Vẹn's first loan with Thanh Hoa Fund of Poor Women.
The main challenge that Vẹn faces in her business is the lack of capital. With her improved business profits resulting from her loan, Vẹn hopes for her business to do well, for her family to be healthy and happy, and for her children to find a good job.
About Thanh Hoa Fund for Poor Women (FPW)Thanh Hoa Fund for Poor Women (FPW) 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, FPW 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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This loan has been fully funded!