Client success stories
Lending to right borrowers
(VBSP News) “I escaped from poverty thanks to the Farmer Association’s introduction to borrow VBSP’s preferential loans”. That’s Mr. Danh An’s confidence – Khmer ethnic minority living in ward 4, Vi Thanh city (Hau Giang province). He borrowed VBSP’s loan to do business. So far, he not only released poverty but also had an income of hundreds million of Vietnamese dongs per year.
Choose eligible borrowers
Danh An is one of nearly 40 thousand people who approached preferential loans of VBSP Branch of Hau Giang province. This helped his family have more funds for production investment and more stable life than in the past.
Nguyen Van Con – leader of savings and credit group of Farmer Association in region I, ward 4, Vi Thanh city said “To promote loans effectively from VBSP, selection of eligible borrowers is one of the most important factors to contribute to promote VBSP loans effectively. “Currently, my savings and credit group had 53 members with total outstanding loans of VND 881 millions, all households had specific production methods to apply for the loan.
To ensure the transparent process, Deputy Director of Hau Giang branch Nguyen Minh Vuong told: lending consideration and approval must ensure democrat ion, on public and eligibility in order to mitigate negative cases arising such as wrong loan use, overdue debt etc.
Savings deposit reached over VND 30 billion
The preferential credit quality of Hau Giang branch has considerably improved thanks to the pro-active coordination among VBSP with local mass-organizations and savings and credit groups in terms of monitoring and supervising proper loan use, on-time repayment, loan collection as well as savings mobilization.
At present, Hau Giang province has got 2,291 savings and credit groups with average outstanding loans of VND 650 million per one group. Of which, there are 1,588 good groups (accounting for 69.31%), 513 rather good groups (accounting for 22.39%). Total SCG’s savings deposits reached over VND 30 billion as the end of the first quarter in 2015, increasing VND 940 million compared with the same time of previous year. The rate of collecting due debt was higher than 2014 which created revolving funds (above 40%).
- Typical example of good production and business
- Young people developed a model business of growing cantaloupe in the membrane house
- Helping borrowers effectively use policy capita
- Using policy credit to escape poverty
- Communist Party of Vietnam’s 92nd founding anniversary: a dedicated party member
- Women enjoy business success despite challenges of the COVID-19 pandemic
- Increasing income from planting Marigold
- Policy credit helps women take control of their lives
- Pattern leader of Saving and Credit group
- Start up with preferential loans
- Dream of People with Disabilities come true
- Eagerness of households just getting out of poverty in Hau Giang
- Disabled but not Unable
- Getting out of poverty thanks to preferential capital resource
- Policy credit helps sustainable poverty reduction in Ba Vi mountainous area
- Preferential loans help escape from poverty
- Poverty reduction in Viet – Laos border
- Part 4 - Belief and Aspiration
- Part 3 - The Journey of Spreading Love
- Part 2 - Building Trust, Multiplying Happiness
- The Mark of People-Centered Policies (Part 1 - A Lever for Sustainable Poverty Alleviation)
- Part 3 - Building sustainable new countryside
- Part 2 - Devoting passion to helping people
- The vitality of Tra Vinh (Part 1 - Mobilizing the strength of great solidarity)
- Motivating women to rise up
- Soc Trang uses preferential credit for ethnic minorities to settle down
- VBSP temporarily suspends interest collection for borrowers affected by storms and proposes to add VND 4,900 billion in policy credit
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