Originally from ThmorKol district of Cambodia, Samnang is a married mother with three children. To feed her household, she sells grocery items in a small stall while her husband works for others for a wage. Having been in this business for five years, she is able to earn about 22,000 KHR per day. Four cycles ago was her original loan with VisionFund, Kiva's partner. For that loan, she was in a group of two members. With the past loan fully repaid, she can earn a decent income and uplift her lifestyle. Now, she and her co-member are seeking the same loan amount of 1,000,000 KHR each. As a group leader, her loan portion will be used to buy more grocery items for resale, including sugar, salt, canned food and instant noodles. She hopes this loan will help her to replenish her grocery items on time for customers' needs, so as she can make more 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.