Sreymom overcomes her family's hardship with the crop yield that she has received from her rice cropping business on three hectares of farmland. It is the only business that she has had and she has been with it for 10 years. However, the drought is the main challenge for her, which made her crop fruitless. From her current business, she can earn only 13,000 Cambodia Riels (KHR) per day.
Sreymom and her other group member are new to VisionFund for this cycle and Sreymom is the group leader. She and her group member are seeking 1,000,000 KHR and 1,500,000 KHR, respectively. She will use her portion to buy six sacks of fertilizers for her farmland and to pay for harvesting fees. She hopes to increase her productivity to earn more income, so she can set aside some money to buy a mini tracker to support her farmland.
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