Chhean is a mother of three children who are still under her responsibility. She has been growing rice for fifteen years as the main source of income and she also raises pigs for selling as the extra income.
This is the third loan for Chhean. The first two loans, which she completely repaid, have made a better living for her family.
Now she leads a group with three other members to request a new loan. Her requested loan amount is 500,000 KHR and she is going to use some portion of her loan to buy rice seeds and fertilizers for farmland and the remaining for pig feed.
She hopes not only to improve her lifestyle, but also to expand her businesses.
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