Mrs. Nguyen Thi Kim Thoa and Mr. Dang Minh Khanh
Group 35, Dong Hiep Block, Minh An Ward, Hoi An City
VND 5,000,000 ($250 USD)
Pay off high interest debt
Children’s Education Foundation
Some years ago Thoa and Khanh received a loan from a charity for a small fishing boat so they would have a greater income. The loan wasn’t nearly enough so they had to borrow $250 (USD) for the remainder of the purchase and nets. In other words, the charity’s loan put them in a situation where they had to take on a new loan, which they had to pay large monthly interest payments of $13 (USD). Thus, Thoa and Khanh would like a micro loan of $250 (USD) and would like to pay it off over 13 months. Children’s Education Foundation (CEF) is the local NGO who will administer the loan with 0% interest rate. A contract between CEF and Thoa/Khanh will be signed and repayments will be collected on a regular basis. Thoa and Khanh has been a client of CEF for a couple of years.