Co Kho Group
Thiet is 26 years old and married with two children. One is in second grade and the other is just two years old. Thiet lives with her mother-in-law and supports a nephew who is studying in vocational school.
Cultivating rice is Thiet family's main production, but it doesn't bring enough income for her family's needs, especially because of the bad harvest.
Correspondingly, growing vegetables and cereals, breeding poultry and cattle are additional agriculture activities that her family is doing now. Not only that, Thiet's husband works in the construction field. To increase income, Thiet wants to apply for a loan from Anh Chi Em Program to expand her business. Specifically, she would use a portion of loan to buy piglets.
This is Thiet's first loan in the Anh Chi Em Program and she hopes that through this loan, her family's living standard could be improved. She dreams that her children will get the best education, go to university and escape the vicious circle of poverty.
More information about this loan
Anh Chi Em (ACE) is an International NGO microfinance program that supports vulnerable and marginalized individuals in the severely underserved regions of Dien Bien and Muong Ang District in Dien Bien Province and in Northern Vietnam. Launched in 2007 by the French non-profit Entrepreneurs du Monde, ACE focuses on the financial inclusion of women from marginalized ethnicities and those affected by AIDS.
ACE offers two types of flexible loans alongside a voluntary savings program. The amortizing and bullet loans provide borrowers with key capital at an interest rate of 18%, compared to the national averages of 23.01%. The savings program pays clients 6% returns per annum.
Kiva lender’s funds help ACE to expand its services into new communes and more districts and offer loans to more vulnerable individuals.
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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