Sok lives in a rural area located in Sangke district of Battambang province, Cambodia. She is 39 years old and single. To earn a living, Sok has been farming rice and planting chillies for five years. The business earns her approximately KHR 20,000 per day and she manages to save about KHR 5,000 each day after expenses. Drought is the main challenge for her business.
Sok’s group consists of two members who are both females and live in the same village. Sok is taking her second loan with Kiva’s partner, VisionFund, and is acting as the group leader. Sok used her portion to buy fertilizers and seeds for her plantation. She hopes to increase her income from this business to make a better living.
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.