01. Đông Vệ Group
Phương is married and has 3 adult -aged children. She owns and operates a business providing general clothing services to local community members. Phương has been engaged in this business for over 7 years and earns approximately 3,000,000 VND a month from it.
In 2010, Phương joined Thanh Hoa Fund for Poor Women to gain access to financial services to help improve her living situation and ability to engage in business activities. Phương has successfully repaid a previous loan of 3,253,800 VND from Thanh Hoa Fund for Poor Women, which was used to invest in renovating the business. She is now requesting a new loan of 6,159,600 VND which will be used to purchase cloth to resell. This will be the 2nd loan Phương has taken out from Thanh Hoa Fund for Poor Women. She plans to use the additional revenue generated from the business to improve her family's general living conditions.
About the other borrowers in the group:
1. Lê Thị Hương (02) is a 36-year-old woman who is requesting a 6,159,600 VND loan to support her clothing business.
2. N. Thị K. Thoa (03) is a 42-year-old woman who is requesting a 6,159,600 VND loan to support her clothing business.
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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Success!! The loan was 100% repaid