Run is 35 years old and married. He lives in a village located in the Dambae district of Kampong Cham province. He has four dependent children, all of whom are still in school. The primary source of his family’s income is cultivating beans. To better support the family, he and his wife also sell vegetables for extra income. Having been in business for 15 years, Run can earn about 51,000 KHR per day, and he manages to save about 20,000 KHR each day, after living expenses.
This is Run's first loan cycle with VisionFund. Now he is leading his group to request a loan of 1,000,000 KHR, each. As the leader, Run is going to use his portion of the loan to buy fertilizer for his farmland. He hopes to get a high yield from his bean crop.
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.