Like many other poor households in Duc Xa village, Vinh Thuy commune, the family of 34-year-old Ho Thi Trinh used to struggle to cover the living expenses and educational costs for her family of four, with two children of school age. Her only source of income would come from just 0.18 hectares of rice fields and farming a few chickens. Thien, her husband, worked far away as a quarry worker to earn more money, but all his hard work could bring the family no more than just US $95 per month in total income. Things became more difficult when they found out their daughter was suffering from a heart disease.
In June 2010, through an introduction from the women’s union in the village, Trinh learned about the Microfinance Program of World Vision. She took a first loan of US $140 from MFU to buy a sow and two piglets. With this small investment, Trinh had more business to do right at home, while the monthly repayments kept her in a good practice of savings. A year later, Trinh not only completed repayment of the whole loan but also turned a profit from selling two pigs for US $150. The sow bought from the first loan also gave birth to 12 piglets, seven of which Trinh sold to earn more profit. One part of the money that the family earned went to care for the medical treatment of their daughter as well as the education of their son, including new clothes and a school bag. The other part was added to the second loan Trinh then took from MFU to reinvest in new pig herd.
“I learned the way to save from the repayment methodology of the program. MFU has its own advantage to the poor in comparing with other financial providers because we would not worry to repay big amount of money at the due term”, Trinh says.
Now, Trinh is currently servicing her fifth loan, having borrowed almost US $2,000 over the past five years to investing in pig raising. Besides the improvement in health and education for the two children, the family was able to repair their house to be more secure in hurricane season. Trinh intends to accumulate the savings she gets from business to buy a cow in order to diversify the livestock in the future. “With financial support from MFU, I get hope and feel more confident to develop the business”, Trinh shares, looking out at the new barn prepared for her future cow.