Thea has joined with VisionFund since 2008. The previous loans have helped her grow her rice timely and successfully and send her children to school regularly. With her current income of nine U.S. dollars per day, she is able to save three U.S. dollars daily for future needs. Successfully repaying her last loan with VisionFund, she leads a group consisting of three female members in applying for another loan with VisionFund for US$350 each. As the leader, she will use this loan to buy fertilizer and rice seeds for her farmland. She hopes to increase her crop yield and improve her lifestyle and keep her children in school.
About VisionFund CambodiaVisionFund Cambodia is a Christian organization and microfinance institution that provides small loans and other financial services to improve the lives of children, empower poor women and their families, and grow successful businesses. The organization works primarily in rural parts of Cambodia and has distinguished itself by targeting the very poor who require smaller loan sizes, regardless of religious beliefs, gender or ethnic background.
Kiva lenders’ funds will help the organization to expand into the northeastern provinces of the country, which have historically been underserved and difficult to reach with financial services.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid