TYM Fund Accesses New Capital Resource from KIVA Organization (USA)
It is known that in order for the TYM Fund to borrow from this capital resource, the Fund has to satisfy some conditions: provide information on its borrowers namely their names, year of birth, address, family, their current job, their current demand and aim of borrowing, whether they borrowed from the Fund or not...The borrowers will be given the loan in 2 weeks right after their information and borrowing demand meets conditions of KIVA.
Besides, in implementation period, the Fund has to regularly provide information on borrowers’ activities to increase their income as well as their ability to return capital.
So far, the Fund has received capital of over 47,000 USD for 92 borrowers. In addition, KIVA has also provided some equipment such as camera, computer…to support these activities.
The contract between TYM Fund and KIVA has been signed every three months based on borrowers’ real demand. The repayment term is every 9 months. It is forecasted that this new capital resource will have considerable contribution to develop TYM Fund in the future through satisfying borrowing demand of the Fund’s current members and opening 2 branches as planned in the last 6 months of 2007.