Saveth is a resident residing in a rural area of Sangke district located in Battambang province, Cambodia. She is 31 years of age and married with three dependent sons, all of whom are currently in school. To offer a decent life for her family, Saveth has a business raising pigs. Her husband works for others as a paid worker in order to add more income to the family. Through the current businesses, this couple is able to earn around 33,000KHR per day and save approximately 13,000KHR after offsetting the daily expenses. This is Saveth’s third time requesting loan via VisionFund, Kiva’s partner. The previous loans have helped Saveth to strengthen her pig-raising business, which has enabled her to earn more income for the family. Now she is leading a loan group of three female members to apply for a loan in the amount of 3,800,000KHR in total. The group representative, Saveth, will use her requested loan portion, which is 1,400,000KHR, to purchase seven heads of pig to raise. Saveth’s biggest hope in the future is to be able to support her dependent sons’ education so that they can have bright future and become potential youths in society.
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.