The five hectares of rice-growing farmland and two hectares of corn-planting, which she has worked for 10 years, has provided a decent income of about 21,000 KHR per day for her family.
This is the second loan cycle for Hathaka, the same as the remaining members in her group, which consists of four female members including her. The first loan, which she has paid back, helped her to support her business in a timely way.
Now, she is a leader in her group. She will use her loan portion to buy fertilizer for her farmland. She hopes that this purchase will boost her crop's productivity more than before, so she can get a high income.
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