She and her husband have earned a living by planting corn on one-hectare of farmland, for ten years. To increase their income, they also work for others for a fee. Their current business earns her about 22,000KHR per day, and she manages to save about 10,000KHR each day for future needs.
This is a group loan. Thy and her group have been members of VisionFund for one cycle. Their past loan helped her support her family and business. Now leading her group to apply for a loan, Thy will use her portion to buy fertilizers, pesticides and labor to support her corn crop.
With this loan, Thy hopes to increase her business and improve her family’s living standard and keep her son in school.
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