Leap, aged 30 years old, is the mother of two daughters and two sons. The rest of her family is residing in a rural area of Kror Kor district of Pursat province, Cambodia. She has struggled to support all of her kids who are still in schools via working for others for a fee; her husband also helps to generate more income as a fisherman. For the 10 years that she has engaged in this business, she has been able to earn approximately 13,000 KHR per day. Leap's group consists of two female members; she is the group leader as a second time borrower while her member is a fourth time borrower. With success, she has paid back the entire loan and it has helped her to better support her husband's business via purchasing a fishing outfit and keeping her children in school. Now she is seeking a new loan with her member with Kiva's partner, VisionFund. As the group leader, she will use her loan portion to buy fishing net for her husband's business. She hopes to generate more profit and keep her children in school until tertiary level.
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.