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Sep 29, 2016 6:34 AM ET

Archived: China: Yuqing – A loan of $1,500 helps to decorate her house for her son’s wedding.

iCrowdNewswire - Sep 29, 2016


NanChong, China / Wedding Expenses
Borrower image

Yuqing’s story

Yuqing is a 59-year-old single mother of one child. Her husband died many years ago and left her and their little son on their own. Yuqing found a job in her hometown as a toll collector, collecting parking fees. In addition, she helps her son to operate a secondhand car shop in her spare time.

Yuqing’s customers are mainly passersby, and she needs to charge fees from those cross cars. Her workplace is near a school, which has many cars every day. It is not an easy job for her because she needs to maintain the public order and ensure the normal order of the parking road traffic. Sometimes she meets some people who are unsatisfied with the charges and quarrel with her. However, Yuqing solves it peacefully.

Yuqing requested ¥10,000 from MicroCred this year because her son will be married at the end of the year. She wants to decorate their house as a marriage room. This is her second loan from Microcred, and she repaid the last loan on time.

She has a dream that their family will have a better life in the future.

Show previous loan details

This loan is special because:

It empowers small business owners in rural China. 

Mark McDonagh
Kiva staff

More about this loan

This loan is part of Microcred’s efforts to provide working capital to small businesses in rural areas of China’s Nanchong district. Given China’s economic boom, many microfinance organizations focus their lending activities on SMEs, leaving micro-businesses with little or no access to capital. By funding this loan, you are helping Chinese micro-entrepreneurs get access to capital and become successful business owners.
Due to Chinese government regulations that complicate money transfers, if you fund this loan you may receive your repayments up to 6 months after the repayment deadline. The Field Partner may hold any repayments made by the borrower until a money transfer is made to Kiva; this should not exceed a 6-month period of time. We want you to be aware of this potential waiting period and the associated risks before making a loan to borrowers in China on Kiva.

About Microcred China:

Microcred China (MC China) is an investment company based in Hong Kong that aims to increase access to financial services among rural communities in mainland China. MC China targets farmers, micro and small entrepreneurs in Sichuan province. The company was established as an alternative banking solution for people who were being excluded from borrowing in the traditional banking system.

A loan of $1,500 helps to decorate her house for her son’s wedding.

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