Earnn is a 55-year-old married mother who lives with her husband and seven children in a rural area of Prey Chhor district of Kampong Cham province, Cambodia. Out of her seven children, she still has one child to care for who is still in school. To support the family, Earnn farms rice and plants vegetables while her husband supplements the income by raising pigs and catching fish. They have been in this business for twenty-one years. Her family's daily income is approximately 25,000 KHR and they can manage to save about 10,000 KHR each day after their daily expenses.
Earnn’s group consists of two female members who have been with VisionFund for two cycles. Earnn completely paid back the past loans, which have helped her to support her child’s education and improve their livelihood. Now she is leading her group to apply for a loan of 1,300,000 KHR each. Earnn is going to use her portion to buy more piglets for raising. She hopes to fatten her pigs in order to sell them for a good price to better her living conditions and keep her child in school.
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.