To strive for a living, Yorn has been growing paddy rice on two hectares of farmland as the primary source of income. In addition to better feed her family as the single mother, Yorn also grows corns, cucumbers, and cabbages. For the several years that she has been with these businesses, she earns about 12,000 KHR per day. Her main challenges are the fruitless cash-crops caused by the drought and the insects.
This is the first loan cycle for Yorn with VisionFund. She joins a group of four female members to seek for a new loan in order to overcome her challenges. One of her group members is also a newly joined client, another one is a third cycled client, and the remaining one is a second cycled client. Yorn and the other three group members are applying for 1,000,000 KHR each.
As the group leader, Yorn will use her loan portion to buy 5 sacks of fertilizer for her rice field. Moreover, she will use a portion of it to buy 10 chickens and one piglet for raising to earn more income. She hopes to receive more crop yields and to raise her chickens and pig healthfully so that she can earn more income. By doing so, she can save some money to buy a motorbike to support her business.
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