Mab has been with VisionFund (a Kiva partner) for the past three loan cycles. The past loans have helped a great deal in injecting capital to ensure the smooth operation of her businesses. She has successfully repaid her previous loans.
For this cycle, she is the leader of a loan group consisting of three female members, including herself. She is applying for a loan in the amount of 800,000 KHR, and the other two borrowers are requesting loans of 1,400,000 KHR each. Mab will use her loan funds to pay for the harvesting and shipping fees of her agricultural output. Additionally, she will use a portion of her loan to buy two more pigs to raise.
She is confident that she can harvest her crop production in good time and sell it at a high price, allowing her to generate a higher income. This in turn will allow her to expand her animal husbandry venture.
Mab's goal is to support her children's education to the tertiary level.
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