Kro Nhanh's Group
Kro Nhanh’s group consists of three members who live in the same village. Kro Nhanh has been a member of VisionFund for three loan cycles already and completely paid back the loans, which have helped better support her family’s living to an extent. Now, she can earn about 25,000 KHR (Cambodian riels) per day from the current business and can save about 6,000 KHR each day for future needs.
Now, she is leading her group to apply for a loan with VisionFund. She wants to use her portion to buy fertilizers and seeds for her farmland and use a portion of it to pay for labor fees. Kro Nhanh hopes to increase her crop yields and sell for a good price 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