Thoeurn is 32 years old and a local farmer from Pursat Province's Kror Kor district in Cambodia. He makes a living through rice crops, which he has been doing for 4 years, and his wife also generates additional income through running a fee based boat facility. He is able to earn up to 8,900 KHR per day. All of his income is used mainly to cover the daily food expenses for his three children as two of them are still in school and a remaining kid is a young little one. Thoeurn has been with VisionFund for a two-cycle loan and has completely paid back the loan. His past loan has helped him better support his business and gradually upgrade his living conditions. Now, in a group of two, he is the leader. For his part of the loan, he is going to purchase fertilizer for his rice farm. He strongly believes that he can generate higher production and keep improving his standard of living.
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.