A 33-year-old married woman named Chanthorn resides in a rural village of Kror Kor district located in Pursat province in Cambodia. She is blessed with three lovely dependent daughters, two of whom are currently in school while the other is too young to attend school. Chanthorn and her husband earn their living by farming rice and selling grocery items, together earning around 23,000KHR per day. Chanthorn, a second-time borrower with VisonFund, is leading a group member who is just a first-time borrower with VisionFund to request a loan in the amount of 700,000KHR in total. With the previous loan, Chanthorn succeeded in increasing her crop yields as well as boosting her income. Now hoping to earn more income for the family, she will use her new requested loan portion, which is 500,000KHR, to purchase fertilizer to apply to her rice field. Chanthorn believes that she will be able to make her family's living condition even better than before and, most importantly, be able to pursue her children's schooling.
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.