Not different from other villagers, Nhoeurn overcomes her family’s financial hardship via rice cropping and corn growing. Besides helping on the farm, her husband also uses his spare time to work for others for a fee for extra income. Nhoeurn has been engaged in her current business for ten years.
The past three cycles ago was Nhoeurn’s first loan with VisionFund (Kiva’s partner). It has enabled her to steadily improve her living conditions. For this cycle, she is a leader in a group of two who are applying for 4,000,000 KHR each.
Nhoeurn is going to use her portion to pay for the harvesting fee for her corn field. She hopes to collect her yield on time. Then she can restart replanting her corn seasonably to make more income.
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