13- Đông Sơn Group
Mrs. Luong is the lead borrower of the group. She is 34 years old, married, and has two children, both of whom are at school: a 10 year old son and a 6 year old daughter.
This is Mrs. Luong's first loan from the Fund for Thanh Hoa Poor Women ("FPW"). She will use the proceeds from her loan to buy clothes for her market stall.
She buys women's clothes in the Vuon Hoa market and sells them in the Dong Thanh market. With this loan, she will be able to buy 10 jackets on which she expects to make a 13% profit. She buys jackets for 160,000 VND (~US $9.15) and sells them for 180,000 VND (~US $10.30). On a good day when the weather is chilly (as it is now), she can sell 5 jackets a day.
Mrs. Luong will use the profits from her loan to pay for her children's school fees and for general household expenditures.
The loan will be split equally between 6 borrowers. The other borrowers in the group will use their share of the loan as follows:
* Mrs. Yen is borrowing 1,626,900 Vietnamese Dong (~ US$93) to buy material that she will use to make and sell women’s clothes.
* Mrs. Chien will buy many kinds of small fish to sell in the Dong Thanh market.
* Mrs. Bien will buy outfits to rent to others for special occasions (Teacher Day, Army Day, etc.)
* Mrs. Nguyet will buy pork to make lean pork paste and grilled chopped meat to sell in the Dong Thanh market.
* Mrs. Minh Quyet will buy bowls and dishes to sell in the Dong Thanh market.
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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