Including this cycle, Pach is the six-time borrower with VisionFund (Kiva’s partner). She has succeeded in using the past loans wisely to support her business and has completely paid back the loans already.
Now, she is the leader in a group of two female members including her. She is seeking 1,000,000 KHR, while her co-borrower is seeking 150,000 KHR. Pach is going to spend her loan portion to buy fishes for resale and to connect the electricity for her house. She hopes that this connection will supply sufficient electricity for her household so that her child can read a book easily at night time.
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