She manages 2 hectares of farmland for cultivating rice, while her husband does cow and buffalo trading (buying and reselling). She has been with this business for 14 years.
Mom has never been with VisionFund before. She formed a group of three female members for the new loan; all of them are requesting the same loan amount of 3,000,000 Cambodian riels (KHR) each. As a group leader, she is going to use her portion to buy fertilizer and to pay for water pumping plus transplanting her crop. Moreover, she will use some portion of it to buy cows and buffalo for supporting her husband's business. She strongly believes that she will receive a high productivity from her cash-crop, thereby, she can enlarge her income and expand her business gradually.
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