To support her children in school, she runs a small stall selling grocery items in the village, and raises pigs at home. Her husband supplements the family's income by fishing, and reselling the fish.
She has been in this business for 12 years. Chanthok's group consists of two female members, both of whom have been with VisionFund at least three loan cycles. Chanthok has used her past loan with success to inject more capital into running her business; she has already paid back the past loan.
In this cycle, she is seeking for 1,4000,000 KHR while her co-member is applying for 1,000,000 KHR. As the group leader, she is going to use her portion to buy fishing equipment (cast net, fish trap). She will also use a portion to buy more grocery items for resale, including soap, canned food, instant noodles, etc.
She expects that this purchase will help her support her business, so she can provide her children decent food and keep them in school.
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