A resident of Moung Russey district of Battambang province, Cambodia, Chreb is 34 years of age. She is married and has four children, three daughters and one son, all of whom are in school and dependent on her. The main source of her income comes from her rice-growing business and sesame-planting business. She has fourteen years of experience in the current business. Chreb received funding from Kiva’s partner, VisionFund, one loan cycle ago, with which she succeeded in securing her family’s finances. As the shortage of water remains her main challenge and lowers her yield, Chreb is leading a group to request a loan in the amount of 1,200,000 KHR each. Chreb will spend some of her loan portion on paying the gasoline fee for pumping water for her cash-crop, while using another portion of it to buy fertilizers and pesticides. She dreams of having sufficient working capital for her field of business and to boost her income.
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.