For more than 18 years, she has been farming rice on one-hectare of farmland as the primary source of the family’s income. She can earn about KHR 70,000 per day, and manages to save about KHR 30,000 each day, after offsetting daily expenses, for future needs.
Sinak has been a member of VisionFund for one cycle, and has fully paid back the loan. She wisely and successfully used the first loan to make her living conditions better.
Now Sinak is leading her group to request a loan with VisionFund. As the leader, she will use her portion to buy fertilizer and pesticide for her farmland, and will use a portion of it on labor fees. She hopes to grow her rice healthfully and timely to make a living better.
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