Rising out of poverty thanks to preferential loans

With capital from the Social Policy Bank, Ms. Le Thi Tam's family in My Quang village, Thang Long commune (Nong Cong) invested in production and escaped poverty.

Through the information channels of local associations, political organizations, savings and loan groups, Ms. Le Thi Tam's family - a poor household in My Quang village, Thang Long commune (Nong Cong) boldly borrowed preferential credit policies to develop the economy. At the end of May 2019, she received a disbursement of 50 million VND from the Nong Cong District Social Policy Bank to repair barns and raise breeding cows.

At the time of borrowing money, her family was in a very difficult situation, living in a dilapidated house, and their economy was completely dependent on a few fields. After investing in breeding cows, her family was able to get 2 more calves each year, creating a stable source of income. By the end of 2021, Tam's family had escaped the list of poor households.

After paying off the bank loan, she continued to borrow 100 million VND from the near-poor household program. This capital was invested in poultry farming and converting a mixed garden into an orchard on an area of ​​600m2. Thanks to using the loan effectively and working hard, Tam's family not only escaped poverty but also built a solid house to replace the old dilapidated house.

Like Ms. Tam's family, in 2016, Mr. Le Van Luan's family in Lang Mat village, Van Thien commune, was a poor household and borrowed 50 million VND from the Nong Cong District Social Policy Bank to raise buffaloes for breeding. By July 2019, he had paid off all his debts and escaped poverty in 2022. In early 2024, he switched to aluminum and glass making and borrowed another 100 million VND from the program for newly escaped poverty households. Thanks to that, he was able to open a spacious aluminum and glass shop with a higher income than raising livestock. Mr. Luan said: "The preferential loan capital from the Nong Cong District Social Policy Bank has helped and motivated my family to become a well-off household and a good economic performer in the commune."

Also receiving a loan of 100 million VND under the loan program for newly escaped poverty households, Ms. Pham Thi Hoach's family in Tien Ich 2 village, Vinh Quang commune (Vinh Loc) used it for livestock farming, land improvement and farm expansion. By June 2024, her family had not only paid off all bank debt but also created a stable annual income.

There are still many poor and near-poor households in the province that have access to preferential loans from the Bank for Social Policies to invest in production and business development and escape poverty sustainably. Currently, the total outstanding debt of the Bank for Social Policies of Nong Cong district has reached 643,610 million VND. In the first quarter of 2025 alone, the loan disbursement reached 44,476 million VND, with 609 poor households and other policy beneficiaries receiving loans. Thanks to that, it has contributed to creating capital for 199 poor households, near-poor households, and newly escaped poverty households to have capital to develop their family economy. In Vinh Loc district, up to now, the total outstanding debt of the district Bank for Social Policies has reached 414,055 million VND. In the first quarter of 2025 alone, loans disbursed reached VND 33,123 million, with 3 poor households, 37 near-poor households, 44 newly escaped poverty households and 405 other policy beneficiaries receiving loans, contributing to creating jobs for about 200 workers.

It can be affirmed that preferential loans from the Bank for Social Policies have helped poor and near-poor households have capital to do business, improve living conditions, promote economic development and ensure social security. Loans also help many households invest in production and business, thereby increasing personal income, creating more jobs for local workers, contributing to reducing the unemployment rate.

According to Nguyen Xuan Binh, Director of the Nong Cong District Social Policy Bank, in the coming time, the bank will step up propaganda about preferential credit programs, especially lending to poor, near-poor and newly escaped-poverty households. At the same time, it will advise the Party Committees, authorities of communes, towns and associations to coordinate in reviewing the capital needs of policy beneficiaries to provide loans in a timely manner. The bank will also strengthen inspection and supervision of the use of capital for the right purpose and efficiency and apply information technology to the lending process to save time and resources.

Article and photos: Mai Phuong

Source: https://baothanhhoa.vn/vuon-len-thoat-ngheo-nho-nguon-von-vay-uu-dai-245803.htm