Sreynuon is 33 years old and married. She has three children: two of them are still in school while the remaining one is still too young for schooling. The rest of her family lives in a local village of the Moung Russey district of Battambang Province. Like a lot of people in her neighborhood, she is also a rice farmer. To earn extra income, her husband works for others for a fee during his spare time. He has been involved in this business for 7 years and is able to earn up to 32,800 KHR per day. Sreynuon has been with VisionFund for three loan cycles. She has wisely used her loans to better support her business. She uses her increased income for her household’s daily expenses. Now, she needs some working capital to pay for the harvesting fees of her paddy rice. Hence, she formed a group of three to seek out a new loan. She hopes that this loan will support her business in a timely manner and bring her multiple crop yields so that she can earn more income to not only support her entire household’s expenses but also keep her children in school.
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.