After the success of her past loans which have empowered her to improve her living conditions as well as her business, Un has paid back the loans entirely with success. For this new loan for her group, the total amount of the loan request is 2,100,000 KHR. Un's loan portion in the amount of 1,200,000 KHR will be used for buying five sacks of fertilizer and ingredients for making Khmer Noodle for resale as extra income. She greatly hopes that she can make double income from her businesses so that she can add it up with her saving in order to buy a decent motorbike for use in her business as well as for commuting.
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