A rural villager from Bakan district, Nory is one of the breadwinners in a family that includes three schoolchildren. She is engaged in rice cropping on 2.5 hectares of farmland. Besides helping on the rice farm, her husband helps her to earn more income via catching fish to sell. The current business that she has been with for 11 years earns her about 15,500 Cambodian riels (KHR) per day. For her, flooding remains a big challenge. Having never been with Vision Fund (Kiva's partner) before, she forms a group of three members who are first loan-cycle clients and are seeking the same amount of 1,000,000 KHR each. As a group leader, she is going to use her portion to buy fertilizer for her rice and cast net for her husband to catch more fish. She hopes to receive more yield than before and uplift her living conditions.
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.