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Hak's Group
In this Group: Hak, Sophan
Hak, 47, lives in a rural village in the Sangke district of Battambang province, Cambodia. She is married and has six children, four of whom are dependent on her and still in school. She earns a living through farming rice and planting oranges to complement the family’s income. She has been involved in this business for twenty years and can earn about KHR 30,000 and save around KHR 10,000 after deducting daily expenses for future needs. Low crop yield is still the main challenge for her.

Hak received her first microloan from Kiva’s partner VisionFund one cycle ago, while the other member has been with VisionFund for two cycles. With success and in a smart manner, she has used her previous loan to better support her current business progressively. Now she and her group member are applying for a loan of KHR 1,200,000 and KHR 1,400,000 respectively. Hak, who is the leader, will use her portion to buy fertilizer and rice seeds for cultivating her farmland. She hopes her crop yield will become more profitable so as she can obtain a better lifestyle and keep her children in school.

Additional Information

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.

About Cambodia

  • $2,600
    Average annual income
  • 120
    View loans »
    Cambodia Loans Fundraising
  • $35,919,225
    Funds lent in using Kiva
  • 4,055.0
    Cambodia Riels (KHR) = $1 USD

Success!! The loan was 100% repaid

A portion of Hak's Group's $650 loan helped a member buy fertilizer and rice seeds.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2012
Listed
Sep 24, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013