DUACT Micro Credit Program

The Micro Credit Program is set up to provide some able, willing and hard working farmers with initial small amount of fund, say, 500.00USD each, to buy a young cow to raise for a period of 24 months. The borrowed money will be repaid without interest . DUACT will reinvest the money to another poor farmer. Then the cycle will continue under the supervision of a team of local respected, trustworthy elders. Star Dental Care of Houston has worked with Duact to make this Program successful.

The goal of the Program is to help poor farmers without credit history and with no experience of debt repayment to have a chance to acquire equity for family to become self sufficient economically. This is also a program to teach them how to use hard work, diligence, to become entrepreneur with needed capital for more productive venture.

The initial location was selected in Quang Binh province. It has been successful after a period from 2007 to 2014. 60 farmers in Xom Hoi, Tho Ngoa and Da Nen, Tuyen Hoa of Quang Binh Province have become self sufficient thanks to the Program.

The second Micro Credit Program is now moved to Văn Lăng Hamlet , Kien Xuong Village, Thai Binh Proince, beginning on November 11, 2013 with 5 borrowers-farmers, with 500.00 USD each for the loan period of 24 months.

The Supervisory Board is comprised of Phạm Văn Chỉ : Advisor, Phạm Văn Hoạt : Assistant, Phạm Ngọc Chiêm : Secretary-Treasurer, Phạm Ngọc Dương : Member, Hamlet Chief, Phạm Ngọc Đẫy : Member, Phạm Ngọc Thiệm : Member and Phạm Đức Thự : Member.

The first group of borrowers are: Phạm Duy Đằng, Phạm Duy Đanh, Phạm Duy Sáu, Đỗ Duy Thường, and Phạm Đức Ngật. For the Loan period of 11/2013 – 11/2015.

The second group of borrowers are: Pham Van Le, Pham Duc Trao, Pham Van Hanh, Pham Duy Tranh and Do Van Thoa. For the Loan period of 3/2014 -3/2016

The third group of borrowers are: Vu Van Hai, Pham Xuan Vi, Pham Duy Tuyen, Vu Duy Dao and Pham Duc Tam. For the Loan period of 9/2014 – 9/ 2016

The fourth group of borrowers are: Pham Duy Dan, Tran Van Duc, Pham Duc Chuyen, Pham Duy Phao and Pham Van Trung. For the Loan period of 3/ 2015-3/2017