Her primary sources of income are from one and half hectares of rice cultivation and a pig-raising business. She has engaged in this business for 19 years and earns about 12,500 KHR per day.
Mom has never been with VisionFund before. She formed a group of three to apply for a new loan. She and one of her co-members are newly joined borrowers seeking 1,000,000 KHR each, while the third member is a third-cycle loan client who is applying for 1,400,000 KHR.
With her loan portion, Mom is going to buy pig's feed and fertilizer for her rice farm. She hopes earn more income from her current business so that she can improve her standard of living as well as keep her children 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