SamAth is a father of a young son and is a citizen from Mongkul Borey district of Banteay Meanchey province (Cambodia). To cover the daily cost of living, he does rice cropping with support from his wife. He has been involved in this business for five years and is able to save up to 20,000 KHR per day currently. SamAth leads a group of six members. He is a sixth-cycle loan client who has paid back his past loan successfully. The loans have better sustained his business and upgraded his living conditions. For this cycle, he and four other members are applying for 1,000,000 KHR each while his remaining co-borrower is applying for 600,000 KHR. As the leader, he is going to use his portion to buy six sacks of fertilizer for his farmland and to start a small grocery stall for extra income. He hopes to earn more income so that he can build on his savings to fix his house in a proper condition.
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.