He has been making his living through rice farming on his one-hectare farmland for 30 years. To add more income to his family, he is also making palm sugar. With the business that he has been doing, he is able to earn approximately 23,000 KHR per day and able to save around 13,000 KHR per day.
Sambat is a second-cycle loan client with VisionFund. The first loan enabled him to save some portion of his income for covering his expenses in the family. Sambat and his other group member, who is the third-cycle loan client with VisionFund, are requesting a new loan with VisionFund. He will use his loan portion to buy fertilizers. He expects to double his income and keep up a good 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