Samphors is a 33-year-old father of three children, currently in the local public school. He is a rural citizen from the Moung Russey district of Battambang Province, Cambordia. He has three hectares for growing rice, the business that he has been with for 10 years. This is the fifth time that Samphors borrows with Kiva's partner, VisionFund. He has managed his loan wisely in upgrading his living condition better than before. Now, in the group of two, he is seeking a loan in the amount of 1,400,000 KHR and his co-member is applying for 1,200,000 KHR. As the leader, his portion will be used for purchasing fertilizer and insecticide. He hopes to gain more yield so that he can increase his income and maintain his lifestyle.
About VisionFund Cambodia
VisionFund 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.