Through the amazing support of a very generous benefactor, we now have $19,500. Because the donation came direct, it is not being picked up by this GoFundMe account. Through your kind support, we are about to hit our1000th loan!!
How do you turn your $1 to $500? Keep reading!
Birthday push - to raise $5,000 to add to our current $3,000. This will help us get closer to our 2020 goal of $10,000 which allows us to lend to about 900-1,000 families about every 12 months.
Timeline of goals:
Birthday July 2020 - our goal was to raise $5000. We raised $2275 for a total of $5575.
Thanksgiving 2019 - our goal was to get to $3000. We got to $3300.
April 2018 - our original goal was $1000. We raised $2000.
$1 to $500 - your $1 will be leverage up to 70x via the work we do on Kiva (see below how Kiva magic works). That $70 is worth $500 of purchasing power because the dollar goes a really long way in the villages of Vietnam. In concrete terms, your $25 donation, combined with capital of other global Kiva investors, turns into a water buffalo that can form the foundation of financial self reliance for a Vietnamese family. Once the family repays their loan, that money is re-lent to another family to buy another water buffalo.
Kiva magic- since 2018, we have leveraged our capital to mobilize close to another $300,000 from global lenders. Because the Kiva borrowers must receive investments equal to their full loan amount or receive nothing, we intentionally invest the last dollar to reach the full loan amount . Our action ensure the loans are fully committed and thus funded. This approach has activated global capital to support over 300 loans to Vietnamese small rural businesses to assist them on their journey to financial self sufficiency. Of those loans, ZERO default and many fully repaid loans. When borrowers make monthly repayments, we use that to re-lend to more rural businesses.
Visit us to see our loans. We are approaching 300 loans - https://www.kiva.org/lender/vietnammicrofinance
This fund will be used to lend money to hardworking Vietnamese entrepreneurs in poverty-stricken areas who cannot access traditional financing.
You can give as little as $5.
Examples of loans made:
Money to buy more chairs and tables for her growing restaurant. https://www.kiva.org/lend/1477469
Fund to purchase cars for transport services. https://www.kiva.org/lend/1496303
Loan to purchase cakes, milk, salt, sugar, and general things to resell. https://www.kiva.org/lend/1467452
We provide Sau's first loan to purchase clothing to resell. https://www.kiva.org/lend/1501624
We will leverage the work done by Kiva, https://www.kiva.org/, a very well known global micro financing non profit. Kiva has teams of people in Vietnam vetting and screening the borrowers. This money will be used to support family businesses Kiva has identified as viable enterprises with good prospect for repayment of loans. Globally Kiva has a 97% loan repayment rate. In Vietnam, the loan repayment rate is even higher.
Once these businesses repaid their loans to us, we will recycle the loans to other deserving family businesses. Every 14 months, $1,000 could help 80 families move closer to being financially self sufficient.
As with all lending, there are risks. Risks include nonpayment by the borrowers, bankruptcy of the borrowers, potential loss of capital, etc.
This is a labor of love for me and I am not compensated for this initiative.
We are grateful for your generosity. Please share with your friends and family!
Thank you for all you do!
Louie Nguyen, CFA
- Anthony Nikko
- Linh Pham
- Vietnam Finance Society
- Kurt Nguyen
- L T
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