To earn a living, she and her husband have been growing red corn on their three hectares of farmland for six years, from which she is able to earn about 25,000 KHR per day. However, her production seems to be declining due to the pests that destroyed her crop.
To overcome this challenge, she has formed a group consisting of three female members to seek a new loan. Each of them is seeking the same loan amount of 800,000 KHR. As the group leader, Roery will use her portion to buy fertilizer, seed, and insecticide for her paddy. She highly hopes that this purchase will help her to fight the pests that harm her cash crop and return back a good yield.
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