Effectiveness of Loan Capital for Formerly Incarcerated Individuals

Thanks to loan capital from VBSP Tam Nong District (Dong Thap), many formerly incarcerated individuals have been able to start their own businesses, generate stable income and successfully reintegrate into the community.

Mr. Nguyen Van P took loan to open a barbershop, earning a stable income

Previously, Mr. Nguyen Van P (Tram Chim Town, Tam Nong District) violated the law and served a six-month prison sentence. After completing his sentence, he took a loan of VND 90 million from VBSP Tam Nong District to open a barbershop. Thanks to his diligence and skills, his shop attracted many customers, generating an average daily income of VND 300,000, which was enough to cover his family’s living expenses and repay the loan on time.

Mr. Nguyen Huynh Minh C (Tan Hung Hamlet, Tan Cong Sinh Commune, Tam Nong District) was involved in a tragic accident while transporting goods on his motorbike, which resulted in a fatality. As a result, he was sentenced to 12 months in prison.

After serving his sentence, from 2021 until now, he has received two preferential loans from VBSP to purchase tables, chairs, wedding arches and sound systems for wedding services. With his hard work and perseverance, his business has grown steadily, providing stable jobs and incomes for 10 workers.

Mr. Nguyen Huynh Minh C shared: "When I first completed my sentence, I felt lost. Thanks to the loan from VBSP Tam Nong District, my business has flourished, and I no longer feel ashamed or self-conscious".

As of the end of February 2025, VBSP Tam Nong District has disbursed loans to 14 formerly incarcerated individuals, with a total loan amount of VND 1.115 billion and loan terms ranging from 3 to 10 years.

Mr. Le Thien Hieu, Deputy Director of VBSP Tam Nong District stated: "We are delighted that those who received loans have used them effectively for the right purposes. This not only carries profound humanitarian significance but also contributes to social welfare and local security. In the coming time, we hope to continue receiving support and cooperation from local authorities and mass organizations to further enhance the effectiveness of this policy".

Tran Trong Trung