Kheoun, 33, is a resident of a rural area of Moung Russey district located in Battambang province, Cambodia. She is married and has three kids, some of whom are school-aged children and some are too young to attend school. To provide a decent life for the family, Kheoun and her husband work two jobs each (rice farmer and paid worker). Together, they earn around 14,500 KHR per day. Kheoun is a fifth-time borrower with VisionFund (Kiva’s partner). She is very satisfied that she was able to improve the living standard of her family through the help that she already received in the form of previous loans. Now she is leading a group of four female members who are applying for a new loan with VisionFund. With her requested loan portion, Kheoun will buy fertilizer and pesticide in order to keep her rice field in good shape. This hard-working woman expects to see a higher crop yield in her business as well as a boost in her income after receiving her loan portion and applying it as she has planned.
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.