Animal farms for 8 enterprising villagers​

by World Vision Singapore

Ms. Ha Thi Du and her 7 friends live in the highland and near rugged mountains, where they mainly breed and cultivate for their daily living. Together, they wish to access a collective loan of $11,768 to maintain and expand their current livestock model. ​

Ms. Du lives in a poor household with 2 young children, one being 8 and the other being 10 years old. Her family is being supported by her rice field, some chicken and the unstable wage of her husband. ​

She shared, “I and my husband always work hard, but our meager income from growing rice and raising chickens is not enough to support the whole life of the family as well as the needs of my children’s nutrition. I am always eager to find a way to get out of poverty and give my children a better life”.​

Ms. Du would like to invest in some pigs to earn more income to cover their living expense. By taking a loan of $1,353, Ms. Du will be able to expand her animal husbandry farm and improve her small family’s living condition. ​

Her friend, Ms. Ha Thi Hang, is another member of the group seeking to borrow a loan. Unfortunately, she had no chance to go to school when she was a child and got married quite young with 3 children. They are 14, 10, and 2 years old. Ms. Hang and her husband work hard every day, but their current income from harvesting bamboo and raising some ducks is never enough for the whole family.​

She explains, “With no job, my family has no stable income and always lacks the capital to buy seeds. But we must maintain this small husbandry farm by one way or another as this is the most important thing for us to give more nutrition for my kids”. ​

Ms. Hang wishes to receive $1,218 to expand her duck flock to get more income for her family and give her children opportunities to go to school and have a healthy life.​

Both of these enterprising women are keen on improving their livelihood especially as they wish to ensure their children receive education and proper living conditions. However, they are unable to access loans and capital support for their business as they are unable to provide the necessary records or collaterals. By applying through a community group of friends and neighbours who know and trust each other, World Vision is able to assess and provide loans based on the character and longevity of the group. This allows for poverty-stricken families like Ms. Du and Ms. Hang to borrow a loan as a group, and access the portion they require without having to provide a collateral or deposit. In addition, short discussions on topics of interest such as savings, insurance, budgeting and borrowing wisely are also facilitated during group meetings. This helps the women to increase their financial knowledge and control, and such knowledge is crucial to their journey of becoming financially independent and sustainable. the need for collateral or a deposit.​

You can now help Ms. Du, Ms. Hang, and their 7 friends to access microloans. Your support will make a world of a difference to these eight villagers, as they obtain the much-needed chance to improve their livelihoods to provide better care for their children. ​

Want to learn more about how microfinance loans can change the lives of women like Ms. Du or Ms. Hang? Click here to see the Frequently Asked Questions and learn more about mission-based loans provided through microfinance.