Rice farming and sesame growing are the primary sources of her family’s income. She has been in this business for ten years. Bopha’s daily income is approximately 30,000 KHR and she can manage to save about 10,000 KHR each day after offsetting daily expenses. The scarcity of working capital is the main challenge for supporting her farming business.
Bopha has been with Kiva’s partner, VisionFund, for one cycle and has fully paid back the past loan. She has successfully and wisely utilized the previous loan to secure food needs for her family and also to support her family with enough household supplies for consumption. Now Bopha is leading her group of two to request another loan. She is going to use her portion to buy insecticides and fertilizer for her farmland.
Bopha hopes to grow her rice and sesame successfully and increase a large income to better off her family’s living condition and keep her daughter in school.
About VisionFund CambodiaVisionFund 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.
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Success!! The loan was 100% repaid