At 29 years old, Thea is a citizen living in Battambang province's Moung Russey district, Cambodia. She is married and blessed with two dependent kids, one of whom is a student while the other one is too young for schooling. Thea and her husband offer decent conditions for the family by working as rice farmers. To add more income to the family, Thea's husband also works as a motor-taxi driver. Together, they generate income for the family around 25,000 KHR per day. Thea has been with Kiva's partner, VisionFund, for four loan cycles already, with which she succeeded in improving the family's lifestyle. She is now leading a group member who has been with VisionFund for two loan cycles to seek loans in the amount of 1,400,000 KHR each. The group leader, Thea, will utilize her loan portion to pay wages to farm laborers. Thea expects to harvest rice on time via the help of this loan.
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.