07- Dong Son Group
Mrs. Thanh is the lead borrower of the group. She is 43 years old, married, and has two children: a 19-year-old son who is studying physical education and a 14-year-old daughter who is at secondary school.
This is Mrs. Thanh's first loan from the Fund for Thanh Hoa Poor Women ("FPW") and she will use it to buy the ingredients with which to make bun pho, a popular dish in northern Vietnam made with chicken, beef, or pork. She will sell the bun pho on the street outside her house. With the profits from her loan, Mrs. Thanh will pay her children's school fees and provide for her family.
The loan will be split equally among all 5 borrowers. The other borrowers in the group will use their share of the loan as follows:
* Mrs. Duy is borrowing 1,626,900 Vietnamese Dong (~ US$ 93) to buy various foods for her stall: onions, garlic, ginger, mushrooms, peanuts, sugar, sauce, etc.
* Mrs. Ty will use her share of the loan to buy beans to make tofu that she'll sell from her house.
* Mrs. Binh will use her share of the loan to buy lots of small items that she'll sell from the front room of her house: candy, cookies, beer, sugar, cigarettes, bread, and other such items.
* Mrs. Doai will buy 2 small pigs to raise that she will then re-sell.
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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