She makes a living through 1.5 hectares of rice farmland. To add more income, she also raises pigs at home, while her husband works as a paid worker. From the current business that she has been with for several years, she is able to earn about 22,000 KHR per day and save about 16,000 KHR each day for future needs. However, the main challenge for her rice is drought, which lowers her yield.
Lang received her first loan with Kiva’s partner, VisionFund, three cycles ago, while her other group member has been with VisionFund for one cycle. The past loans have helped her better support her current business.
She is now leading her group of two to request a loan with VisionFund. With her portion, she is going to buy fertilizers for her farmland and build on her savings to renovate her house. She hopes to earn more income from the crop yield and also enable her to have a decent house for living in so as to improve her family’s lifestyle.
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