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Hong's Group
In this Group: Hong, Set
A widow with six children, Hong is 62 years old and a villager from Battambang Province’s Ek Phnom. The only source of income for her family is rice cultivation, from which she is able to earn up to 22,500 KHR per day. This is the business that she has been doing for 20 years. Hong, a loyal client who has been with VisionFund (Kiva’s partner) for the past seven cycles, has fully repaid her loans with success and feels empowered that she can relieve her family's financial burden and make a good living. Furthermore, the past loan has returned her a decent income in order to fix her house as well as do the crop husbandry. This cycle, she is an eight-time borrower and her co-borrower is a six-time borrower. The total amount of their requested loan is 2,400,000 KHR. Hong, whose loan portion is 1,400,000 KHR, will spend her loan to purchase fertilizer. She highly hopes that this purchase will help her to boost her crop productivity and gain back a high yield.

Additional Information

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.

About Cambodia

  • $2,600
    Average annual income
  • 128
    View loans »
    Cambodia Loans Fundraising
  • $35,092,400
    Funds lent in using Kiva
  • 4,000.0
    Cambodia Riels (KHR) = $1 USD

Success!! The loan was 100% repaid

A portion of Hong's Group's $600 loan helped a member to purchase fertilizer.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2012
Listed
Feb 1, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 19, 2013