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Luong Nga's Group
In this Group: Nga, Cử, Thắm, Phương
Mrs Nga, born in 1963, has been participating in the institution’s program since 1995. She currently lives with her husband and two children in Mai Son district.
Her family's main income is from breeding, and it is just enough for food with a little remaining. She married late so now her two children are still at school age. Because of having to care for their education so she doesn’t have enough money to repair her house.
Currently, she has only saved some of the amount to repair her house, which is why she needs to borrow money to make up for this cost. She will try to work hard to earn money to pay for M7-MFI on time, and she hopes the loan will help her family have a spacious and beautiful house.

Additional Information

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.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Vietnam

  • $725
    Average annual income
  • 126
    View loans »
    Vietnam Loans Fundraising
  • $13,738,050
    Funds lent in using Kiva
  • 21,180.2
    Vietnam Dong (VND) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Luong Nga's Group's $3,175 loan helped a member to repair her house.
74% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 8, 2014
Listed
Aug 19, 2014
Currency Exchange Loss:
Possible