Whenever she applies for a new loan, each past loan has already been repaid with success. This is the sixth loan cycle for Sreypov and the fifth cycle for her co-borrower of the same group of two members. She is seeking 1,400,000 KHR while her fellow group member is only requesting 500,000 KHR. As the leader, Sreypov is going to use her portion to pay for the labor fee for plowing her farmland and to buy fertilizer to boost her crop production.
She hopes that she can increase her income so she can set aside some money to build a new house for her family and to improve her living.
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