Thy is 31 years old, married, and mother to three dependent children. She is a villager living in the Moung Ressey district in Battambang province, Cambodia. Two of Thy’s children are school-aged while the other is too young for school. For the past ten years, Thy and her husband have supported their family by working as rice farmers. They earn approximately 33,000 KHR each day and are able to save about 20,000 KHR after covering their daily expenses. Thy has received six previous loans through VisionFund and has succeeded in improving her family's living standards.
Thy is requesting a group loan of 3,600,000 KHR. She is the leader of a three-person loan group and will use her portion of the loan to buy fertilizer to help keep her rice field in good shape. She expects to improve the quality of her harvest and boost her income. In the future, she will use the anticipated profit from her loan to advance her beloved children's education and continue to support her family.
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.