Her family’s daily income is about 70,000 KHR per day, but she manages to save about 20,000 KHR after daily expenses. Insufficient capital to buy fertilizer for applying to her farmland is the main challenge for her business.
Sokhan’s group consists of two members who are both female. She is a second-cycle client with Kiva’s partner, VisionFund, and completely paid back the loans, which have helped her to better support her family.
Now leading her group to apply for a loan of 500,000 KHR each, Sokhan will use her portion to buy fertilizers for her farmland. She hopes this loan will enable her to increase her crop yields and sell them for a good price to make a better living.
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.
232View loans »
Success!! The loan was 100% repaid