Moeurn, 54, is married and a mother of three. She and her family live in a village in the Dambae district. She has been planting cassava for several years. Moeurn also sells coffee to make additional income for the family. On average, the business earns her around 30,000 Cambodian Riel. Moeurn's group consists of two members and both have been with VisionFund for one loan cycle. They are now requesting another loan since their first loan ended. As a leader, Moeurn will use her portion to spend on land preparation such as plowing and to buy fertilizers. She hopes this loan will help to expand her business and allow her family to live in better conditions.
About VisionFund Cambodia
VisionFund 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.