For the livelihood of her big household, she grows rice and her husband supplements the family’s income by catching fish for resale. For 25 years she has been involved in this business, and she is able to earn up to 10,200 KHR per day.
Chroeb's prior loan was an original loan with Kiva Field Partner, VisionFund. She has smartly used it to sustain her business and progressively improve her living conditions.
Now, she is the leader in a micro-loan group consisting of two female members who are second-time borrowers. Chroeb will use her portion to pay plowing fees plus water-pumping fees, and to purchase fertilizer for her farmland for the upcoming replanting season. She hopes that she will be able to make more income, thereby enabling her four children to pursue their studies until the post-secondary level.
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