This will be Oun’s second time requesting a loan via VisionFund (Kiva’s partner). The first loan she obtained (and successfully paid back) has helped her to secure food needs for her family. Now she is leading a loan group of two female members to apply for a loan in the amount of 2,000,000KHR in total. Oun, with her requested loan portion, will spend it on buying fertilizer to help keep her rice field in good shape. Oun’s biggest hope is to be able to educate her beloved school-aged children as far as possible so that they will reach their potential as youths in the society.
About VisionFund CambodiaVisionFund 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.
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Success!! The loan was 100% repaid