This is the second cycle for Mao and she is the group leader. She has used her past loan wisely to inject good retained earnings into her business. Now, she is forming a group of six to seek a new loan. She and four of her co-members are second-cycle clients, whereas the remaining member is a first-time borrower with VisionFund (a Kiva partner).
Mao will use her portion to buy two pigs for raising, grocery items for resale as extra income and a water pump to support her rice farm. She hopes to make more income so that she can expand her business for her children's sake, especially through raising ducks, chickens and pigs and setting up a small stall for more income.
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