Sophea's group is composed of five women members and all of them, including her, are second-time borrowers with Kiva's partner. She has managed her first loan with success to alleviate her family's burden and improve its livelihood. Now, her entire loan first loan has been paid back. For this cycle, she is a group leader. She will use her loan portion to buy fertilizer for her farm; some portion of it will be used to buy additional grocery items such as soaps, canned food, storage food ingredients etc. for resale. She hopes that her business will gradually grow so she can increase her income and improve her living conditions so they are better than before.
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