An original citizen from the Srey Snom district of Siem Reap Province, Huch is 44 years old and married. She has four children, only one of whom still needs her support as her daughter is still in school. Her main business is rice-cropping on five hectares of farmland. Involved in this business for 10 years, she is able to earn about 10,000 KHR per day. Huch has been with VisionFund for five cycle loans ago and has completely paid back her past loan. It has supported her business gradually and improves her lifestyle. Now, she has formed a group of six to apply for a new loan. Her other four members are in the fourth-cycle loan and a remaining one has just joined VisionFund this cycle. The entire group requesting loan is 5,250,000 KHR. For Huch's portion, which is in amount of 1,400,000 KHR, she is going to purchase fertilizer and to pay a plowing fee. She hopes to double her crop yield and make more income so she can maintain her living conditions and keep her children in school until the tertiary level.
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.