Thol, a rural villager from the Thmor Koul district of Battambang province, is 40 years old and a mother of four children. Only two of her children are living with her; one is still young and another works at a rice mill earning a minimal income. Thol makes a living selling vegetables, and she has been in this business for 26 years, earning about 59,100 KHR per day. She is able to save only about 16,400 KHR after expenses.
Thol is the leader in a group of two borrowers, and she has never borrowed from Kiva partner VisionFund before. Thol is going to use her entire loan portion to help her son to pay for his driver's license tuition fees and examination. She hopes that her son is able to obtain a driver's license so he can get a better job and help the family.
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.