Introduce

Thanh Hoa Microfinance (Thanh Hoa MFI) is an official credit institution, licensed by the State Bank of Vietnam. Thanh Hoa MFI works for the purpose of community development through financial products and services including loans, savings, insurance, and implementation of development projects to improve the quality of life for people, such as financial management, environmental sanitation, nutrition, gender equality, etc.

    Our target audience is poor households, low-income households, disadvantaged women, business households and micro-enterprises, especially people in rural, mountainous, and remote areas. With the motto "Balance the interests of the organization and the interests of the community", Thanh Hoa MFI provides loan products that do not require collateral, just based on the reputation of customers at local. One of the decisive factors for the success of the organization is the friendliness and closeness of the staff, who always respect customers and put customers as the focus. Microfinance officers go to each village to perform disbursement transactions, collect capital, visit households, and regularly organize social activities such as giving gifts to disadvantaged households, poor students overcome difficulties, supporting people affected by Covid, supporting people affected by natural disasters, contributing to the implementation of social security in the locality.

"A Microfinance institution operates for the purpose of community development, providing friendly and efficient financial and non-financial services to poor households, low-income households, and micro enterprises in Vietnam"

After more than 20 years of construction and development, Thanh Hoa MFI has always remained loyal to its mission of operating for the purpose of community development, with strategies focusing on supporting the disadvantaged and poor households, low-income households, business households, micro-enterprises, remote areas, and especially ethnic minorities.

 Thanh Hoa microfinance began to perform in Thanh Hoa in 1998 with the goal of helping low-income households have the opportunity to access financial services and improve their lives. Initially, the microfinance program only provideded poor households with very small loans to give them the opportunity to carry out productive activities, or to start small businesses. But only credit was not enough, the poor also need a series of other services such as savings, insurance, education, training, business consulting, etc., also known as microfinance services.

1998: The Microfinance Program started in 3 poor communes of Nong Cong district, providing loans to 3000 disadvantaged households with a total outstanding loan of 90 million VND.

2008: Thanh Hoa Provincial People's Committee approved the decision to establish a Fund to support poor women in Thanh Hoa from the microfinance program. The Fund operated in 4 districts namely Nong Cong, Thieu Hoa, Hoang Hoa and Thanh Hoa city, providing loans to 5 357 members with a total outstanding loan of 9 billion VND.

2014: The State Bank of Vietnam granted a license to establish Thanh Hoa Microfinance Organization, operating in 19 districts/towns with a scale of 4 branches, 3 transaction offices, providing loans to 17 676 customers with a total outstanding loan of 104 billion VND.

2021:Thanh Hoa MFI established 8 more transaction offices, increasing the operation scale of the organization to 4 branches, 11 transaction offices in 19 districts and towns in the province with the goal of contributing to the achievement of financial inclusion goals. nation. By the end of 2021, Thanh Hoa Microfinance provided products and services to 47 314 customers with a total outstanding balance of VND 344.6 billion VND, of which 90% of customers are women, 12% of customers are ethnic minorities.