In April 17th, 2019, under the continuous sponsorship of the VESAF, NFP, Hearts for Hue cooperated with People’s Committee of Quang Phuoc commune to organize loan for 37 poor families which were divided into two groups. The first group consisted of 11 new families with a loan size of 7,000,000 VND (USD 312) each. The second group is 26 families which is now taking the second round of the Microfinance Project with a loan size 10,000,000 (USD 454). The total amount of loan distribution is 337 million dong.
Loans are provided with the condition that the families must make monthly repayments and the duration of the loan repayment process is 24 months. Loans are offered for a range of purposes such as rice or peanuts and fresh vegetable planting, animal raising and so on which help to improve these family living condition.
In addition, Ms. Vu Thi Huong Lan, a Microfinance Credit Officers of Hearts for Hue also conducted the training on credit and saving management for these families as well as providing information about the microfinance model with an emphasis on approval processes, lending methods, loan sizes, lending durations, reimbursement methods, interest rates, loaner’s groups etc.
Hearts For Hue would like to express our deep gratitude to the VESAF, NFP for your great contribution to our community.
Hearts For Hue Team.