Roeurb and her husband have been struggling to farm rice on one-and-a-half hectares of farmland for their children's sake, and they have been involved in this business for 10 years. The main challenge for her family is the low crop yield caused by drought.
Roeurb and her group member have belonged to VisionFund for four loan cycles. Roeurb has used her past loans successfully to maintain her household, as well as her business. She, as a group leader, is seeking a loan of 600,000 KHR, while her group member is applying for 400,000 KHR.
Roeurb will use her portion of the loan to pay for plowing of her rice farm and to buy a cast net for catching fish to sell for additional income. She hopes to receive a higher crop yield this year in order to earn more income.
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