Rath is 30 years old, married and the mother of four children. She lives in a village in the Banteay Meanchy province’s Mongkul Borey district, where she earns a living by farming rice while her husband works at a separate job to help support their family. Together, they can earn about KHR 20,000 per day from their jobs and save about KHR 5,000 a day for future needs. Rath leads a two-person loan group associated with Kiva partner, VisionFund, and has received and repaid four previous loans from VisionFund. She successfully used the loans to better her living conditions and is now requesting a new loan to buy fertilizer for her farm and hire workers to help with her crop. She hopes to grow more rice and sell it for a good price so that she can improve her living standards.
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.