Rice farming and pig raising are the main sources of the family’s income, which Yong has been in for thirteen years. To add more income for the family, her husband also catches fish and works as a paid worker in the local area. The current businesses earns them approximately KHR 30,000 per day and they manage to save about KHR 10,000 each day after daily expenses. Drought is the main challenge for her paddy field.
Yong has been a member of Kiva’s partner, VisionFund, for five cycles and had completely paid back the past loans, which have constantly supported her family with enough food. Now she is leading her group of three to apply for another loan with VisionFund. As the leader, Yong will use her portion to buy fishing tackles for her husband’s business, such as cast net and fishing pliers, etc. She hopes to grow her business and earn a larger income to improve her standard of living.
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