A loan of $2,375 helped a member to grow her seafood selling business.


6-Quảng Hưng Group's story

Minh N. Thị (age 52) is a married mother of three adult children living in the town of Thanh Hoá. To make a living, Minh prepares and sells food in the local community, mainly seafood products such as fish and shrimp. Minh has been in this business for more than 5 years and earns about 1.000.000 VND each month. Minh joined the Thanh Hoá Fund for Poor Women in 2004 to borrow funds. She successfully repaid the 3.079.800 VND loan, which she used to expand her business and improve her living situation. As the leader of the 7-member group 6-Quảng Hưng, Minh is now requesting her 9th loan by Thanh Hoá Fund for Poor Women so she can continue expanding her business and supplement the family's income. Each group member will receive a 6.000.000 VND individual loan, but they are all responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Other group members want to expand their businesses. Lý N. Thị (age 31), will use the funds for her food stall. Phường N. Thị (age 45), Thường N. Thị (age 35), and Vân N. Thị (age 55), will use their loans to support their businesses raising livestock. Thu N. Thị (age 35) will fund her business raising crops, and Bắc N. Thị (age 45) hopes to grow her service-based business. About Thanh Hoá Fund for Poor Women: The mission of the Thanh Hoá Fund for Poor Women (FPW) is to provide sustainable financial services to disadvantaged women in rural areas in the Thanh Hoá province. Many FPW borrowers have recently expressed a desire to borrow larger amounts to make more significant investments in their businesses. In response to this, FPW has recently added a new loan product of 6.000.000 VND with a 20-month term to its Thanh Hoá City branch portfolio.

In this group: Minh, Phường, Lý, Vân, Thu, Bắc, Thường
*not pictured



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