Her original loan with VisionFund (Kiva's partner) was the previous loan which she has completely paid back. Her past loan has helped her improve her living conditions as well as better support her business. Now, she is able to earn almost 31,000 Riels (KHR) per day. To keep up a good movement of her business, she formed a group of three to seek a new loan. She is a second-time borrower and seeking 500,000 KHR while the other two group members are applying for 700,000 KHR each.
For Chamroeurn as the leader, she is going to use her portion to buy fertilizer for cash crops. Part of her loan will be used to purchase white bean seeds for growing as additional income. She hopes this purchase will increase her yield and return her a good margin.
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.
102View loans »
Success!! The loan was 100% repaid