Mrs. Luan sells clothes in the market. She has had this job for ten years. She has a monthly income of about 4,000,000 Vietnamese dong (VND). This is the first time she joined SEDA. She wants to borrow 5,014,000 VND to buy more new clothes to resell. She is the group leader of 5-member group loan from SEDA.
About the other borrowers in her group:
Thuy is 20 years old. She has one child. She wants to borrow 5,014,000 VND for her small business.
Huong is 31 years old. She has two children. She wants to borrow 5,014,000 VND to buy food for pigs.
Xo is 24 years old. She has one child. She wants to borrow 5,014,000 VND for her small business.
Thom is 27 years old. She has one child. She wants to borrow 5,014,000 VND to buy food for chickens.
About SEDA:The Center of Small Enterprise Development Assistance (SEDA) is a non-profit organization whose vision is to create “a society without poverty.” Founded in 2004, SEDA provides microfinance services to low-income and disadvantaged people in rural areas of Hanoi and the northern provinces of Vietnam through its Binh Minh Micro-Finance Program.
You can also join SEDA’s lending team to assist SEDA in continuing to support its portfolio of borrowers.
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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