Samath is 34 years of age and married. She and her family reside in a rural village of Tbaung Kmum district in Cambodia’s Kampong Cham province. Samath has three daughters and one son, all of whom are under her responsibility. To make a living, she plants sugarcane and works for others as a paid worker. Samath’s husband also assists in the sugarcane-planting business, which is managed by his wife, and he works one more job as a teacher in order to supplement the family’s income. Together, they are able to earn approximately 20,000KHR per day and save around 5,000KHR after canceling out the daily cost of living. Samath is leading a loan group of two female members who are both first-time borrowers with VisionFund (Kiva’s partner) to take out a loan in the amount of 1,000,000KHR each. With the requested loan portion, Samath will buy sugarcane seeds. Via the help of this loan, Samath expects to see a boost in her income as well as an improvement in her family’s livelihood.
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.