Chantheoun is 37 years old and married. She and her family live in Pursat province’s Kror Kor district in Cambodia. She has four children, one of whom (a son) is dependent on her. To earn a living, Chantheoun and her husband work as rice farmers and paid workers. Together, they are able to earn around 27,000 KHR daily. This is Chantheoun’s third time requesting a loan via VisionFund (Kiva’s partner). The past loans that she has obtained and successfully paid back have helped her to build a warm house in which her beloved family can live. Now to support the rice-growing business, Chantheoun is leading a loan group of two female members to take out a loan in the amount of 1,600,000 KHR in total. With 1,000,000 KHR, which is Chantheoun’s loan portion, she will utilize it to buy rice seed. This hard-working woman, Chantheoun, will use her requested loan portion very effectively in order to relieve her family’s burdens and move her family ahead.
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.