Chung was born in 1955. He has a son who is a policeman. His wife is a teacher. Her income is 4,000,000 VND (Vietnamese Dong) per month. Chung raises doves and chickens. Besides that he also is a farmer and a building worker. He earns about 4,000,000 VND per month. He has done this job for five years. His family’s total earnings are about 11,000,000 VND per month. Chung's challenges in life and work are the lack of capital to buy food for his doves. His dream is to have a stable life. This loan is one of the steps to help him in reaching this dream. He can invest in his farm to gain earnings and save profit for his life. Chung is a hardworking man.
He has participated in SEDA's credit program since 2013. In this first loan cycle, he would like to borrow 5,014,000 VND to buy food for raising doves and chickens.
Other members who are part of Chung's group include the following:
Dien is 28 years old. He has a child. He is a worker. He wants to borrow 5,014,000 VND to plant fruits trees.
Duong is 50 years old. She has two children. She is a meat seller. She wants to borrow 5,014,000 VND to raise chickens.
Lan is 45 years old. She has two children. She is a worker. She wants to borrow 5,014,000 VND to raise chickens.
Tan is 52 years old. She has a child. She is a farmer. She wants to borrow 5,014,000 VND to raise chickens.
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.