Client success stories
A successful customer story in De Sua village
Thanks to inclusive financial loans from VBSP and the innovation in running business, from a poor household, after 3 years, a H’mong farmer living in De Sua village, Mu Cang Chai district, Cao Bang province - Sung A Khua escaped from poverty. Since 2017, his family is the one of the highest income households in the neighbors.
VBSP staff discussed with Savings and Credit Group in De Sua village about the effective husbandry development
Before 2007, Sung A Khua, like other H’mong families in Mu Cang Chai district, was triggering a extremely difficult lives despite of a large family number and hard-working labors. In early 2007, VBSP staffs many times disseminate to villagers about the inclusive financial information, which can help them in business investment and improve their lives. Also, VBSP staffs suggested and instructed people the way to invest, such as combining farming expansion and intensive cultivation, raising cattle and poultry as the most effective and safest way.
After consideration, in July 2007, he borrowed VND 5 million from VBSP to raise goats. Besides VBSP loans, he also learned experiences from books and other farmers and attended a husbandry training course. In 3 years, the initial 6 goats gave birth to more than 20 ones, bringing his family’s income nearly VND 30 million, and his family got out of poor households in 2010.
Vegetable slicer invented by A Khua and his son
After successful first step, Sung A Khua decided to borrow another 25 million VND to expand investment in pigs, buffaloes and cows to breeding and ploughing in 2ha paddy field.
In 2010, A Khua set up additional cages, planted grass on upland fields and bare land around the house, bought 2 buffaloes, 2 calves and pigs for breeding. Realizing that cutting grass to feed cattle takes a lot of time, A Khua and her son innovated a vegetable and grass slicer. The slicer model has now been transferred to many households in the village for their time saving of husbandry.
In order to have enough daily food for cattle, he learned the techniques of planting grass, following the instructions of the agriculture advisor so his grassland grows very steadily and lush all the year. He said “Raising cattle is not difficult. We pay attention to the weather and hygiene, so the cows grow healthily. In addition, I also grow more cassava and corn to supplement food for cattle and poultry, which is not only reducing the costs but also proactively adding nutrition for those animals.”
After only few years, A Khua's family regularly had 8-10 buffaloes and cows. He said that raising cattle is somehow easier compared with others: Less disease, low cost food, high resale price. The profit is about VND 7-8 million/buffalo or cow after only 5 - 6 months, and the annual profit minus the general cost is about VND 30 million. Besides, the pigs also grow well, bringing about VND 20 - 30 million every year.
Seeing that the opportunity is opening up, in 2015, he put all the profits from raising cattle and pigs and borrowed more from VBSP VND 50 million to invest in to ducks, goose and chicken and create more jobs for relatives. He calculated that with more than 1,000 ducks and chickens, his family can earn VND 700,000 – 800,000 from selling egg every day and VND 300 million every year. If adding the revenues from buffaloes and fruit trees such as bananas, plums,... I also earn VND 400 - 450 million/year; minus the labor and input cost, it is about VND 250-300 million/year.
Sung A Khua proudly said, his family now has a big house with full utilities, 3 motorbikes and 01 truck to carry products for sale.
Sharing about his business experiences, Sung A Khua said that as a farmer, he must work hard and have to find the suitable seeds for the natural soil conditions. In particular, it is necessary to abandon conservative thinking, absorb the instructions from advisors, borrow loans from inclusive financial services of VBSP, and long-term plan to improve the life for your own family.
- VBSP client success stories
- Having a better life thanks to VBSP inclusive finance
- Getting rich from VBSP’s inclusive finance
- An exemplary leader of Savings and Credit Group
- Students access inclusive finance for education
- The contribution of a veteran, a VBSP loan borrower in inclusive financial activities
- The journey of escaping from poverty
- Improve livelihood from access to inclusive finance services
- Livelihood improvement from VBSP's credit
- Escaping from poverty thanks to preferential capital
- A typical Group Leader in Dak Nong province
- Having capital to plant Ginseng, Tu Mo Rong people escape from poverty
- Vietnamese government supports employees, small businesses and firms amid COVID-19
- Poor households in border region assisted through pandemic
- Pandemic-hit employers to access interest-free loans to pay staff
- Farmers create a considerable fortune from preferential loans
- Escape from poverty thanks to preferential loans
- Helping farmers to recover production after epidemics - VBSP Quang Ngai province
- Newsletter Vol 21
- Guideline on lending for employers to pay job severance wage for their wokers
- Online training conference on lending employers to pay salaries for their employees
- Ready to roll out the new resolution for employers affected by Covid-19 pandemic
LENDING INTEREST RATE
DEPOSIT INTEREST RATE