To overcome her family's hardship, she and her husband grow rice, pineapple, and chilies. She has been in this business for about five years, earning about 20,000 KHR per day.
Nhaet's group consists of two female members and both of them have been with VisionFund at least for one cycle. Her past loan was the original loan and she has paid it back with success. Her past loan helped to support her business and maintain her living conditions.
Now, she is seeking a 1,000,000 KHR loan, the same amount as her co-member. As a group leader, she will buy fertilizer for her crops. She hopes to earn more yields and a better profit.
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