This post is also available in: Tiếng Việt (Vietnamese)
Ms.Nguyen Thi Xuyen – Group 2 – Vinh Hong zone – Mao Khe town – Dong Trieu district– Quang Ninh province
Ms. Xuyen is the head cluster of cluster No.15, Trading room No.4 – Dong Trieu Branch – M7MFI. She has joined M7MFI’s loan program for 3 years. Her first loan was VND 5,000,000 and now her current debit balance is 20,000,000 equivalent to 2 types of loan (9 -month loanand 12 month loan). She and her husband have invested in phones cards, sim cards and motor insurance. Two years ago, they have got an added loan from bank to buy a car to delivery and support to repay the monthly loans from delivery income. Answering to our question the reasons why while borrow capital from bank, she still borrow small capital from M7MFI? She said: “I like the payment method of Microfinance, borrow the whole term and pay little by little therefore in the end we can complete the loans. The procedure is simple and uncomplicated, quick and favourable conditions for loan” This is a clear illustration of the microfinance loans or M7MFI services not only help people starting their business, more confident and create jobs for others, but also have the ability to support to expand and develop business for households, contribution to the overall economic development of local area.
March 20, 2013
Nguyen Thi Tuyet Mai