Hieng, a rural villager from the Kror Kor district of Pursat Provnice, is 45 years old and a mother of five children. Only three of her children still rely on her. Two of them are still in school and one is too young for school. To support her family, she and her husband plant rice as the primary source of income. Additionally, this couple is also involved in other businesses such as palm sugar producing, fish raising, and pig raising. She has been engaged in these businesses for 23 years. They return her about 16,000 KHR per day. As first-time borrowers with Kiva's partner, VisionFund, she and her co-borrower are in the same micro group loan. She is seeking 1,000,000 KHR and her co-member is seeking 2,000,000 KHR. As the leader, she is going to use her portion to pay for items for her sugar-making business such as a ladder for climbing the sugar palm tree, a bamboo container for storing the juice, a big pot etc..She is going to use another portion of it to buy feed for her fish- and pig-raising businesses. She hopes to make more income from her multiple businesses so as she can improve her living conditions.
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.