Khoy is 53 years old and resides in a rural area of the Kror Kor district of Pursat province, Cambodia. He is married and a father of five children, some of whom are school-aged and some are too young for school. Khoy farms rice and raises pigs, the businesses that he has been involving in for 30 years, earning approximately 15,000 KHR and managing to save around 5,000 KHR for future needs. Khoy has been with VisionFund for two loan cycles already. The past loans have enabled him to meet his family’s needs and cover his household’s expenses. Khoy will use his loan to buy fertilizers to apply to his farmland and to buy more pigs to raise. With the help of this loan, Khoy strongly believes that his pigs will be fatter and healthier so that he can sell them at high prices and his rice field will provide good quality crop yields so that he can increase his 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.