Ravy is a mother of three children. The rest of her family is living in a rural area of the Sangke district of the Battambang province. To overcome her family's hardship, she grows rice and sells fish. Her main challenge is flooding, which lowers her crop production. Ravy's group consists of two female members. She and her fellow group member are in their second loan cycle. The past loans, which she has paid back, has provided for better living conditions for her family. For this new loan, she is seeking 700,000 KHR and her co-member is applying for 900,000 KHR. As group leader, she will use her loan portion to buy fertilizer, rice seed, insecticide, and to pay the plowing fee for her farmland. She hopes that there will be enough rainfall in order to support her yield so that she can gain a larger output and increase her income.
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.