Yet is 41 and the married mother of ten children. She lives in the Dambae district of Kampong Cham province, Cambodia. Yet takes care of nine of her ten children (four daughters and five sons) as some are still attending school in the local area and some are helping with the family business. For the past 20 years, Yet and her husband have struggled to feed their big family by farming rice on a 1.5 hectare farm. They supplement their income by cultivating cassava on two hectares of farmland. Their current business earns Yet's family about 14,800 KHR per day.
Yet is the leader of a two-person group loan that is requesting a loan of 1,200,000 KHR for each member. She has been with VisionFund for one cycle and has fully repaid her previous loan. Yet will use her portion of the loan to pay for labor costs to transplant rice and to repair her tractor. She hopes that her loan will enable her to improve her living 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.