Originally from the Kror Kor district of Cambodia, Koern is 43 years old and married. She has five children, two of whom are dependent on her and still in school. To deal with the financial hardship, she grows rice, and sometimes works for others for a fee to better support the family. Koern's current income is 15,000 KHR per day.
This is the second loan for Koern with Kiva Field Partner, VisionFund. The previous loan has helped Koern to better support her family with sufficient food. Now she is leading her group of two to request a loan. As the leader, Koern will use her portion to buy fertilizer and pesticides for her farmland.
Koern hopes to increase her crop yield, so she can improve her standard of living, and keep her children in school.
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.