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Bit's Group
In this Group: Bit, Sovong, Phoery
A local cabbage farmer from the Sangke district of Battambang province, Bit is a 64-year-old father of three children. He has been involved in this business for 30 years and that has enabled him to earn up to 29,200 KHR per day in order to cover his household expenses. Bit has been with VisionFund (Kiva’s partner) for the past five cycles and has fully paid back all the loans.

The past loans have helped him to improve his business gradually so that he can manage to drill a well and to buy a water pump in order to water his cash-crop. Now, he has formed a group of three in order to apply for a new loan. Bit, as the group leader, is going to spend his portion to buy fertilizer and cabbage seed for his farmland. He hopes to grow healthy cabbage so he can make additional income in order to enlarge his farmland.

Additional Information

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.

About Cambodia

  • $2,600
    Average annual income
  • 237
    View loans »
    Cambodia Loans Fundraising
  • $37,070,300
    Funds lent in using Kiva
  • 3,983.8
    Cambodia Riels (KHR) = $1 USD

Success!! The loan was 100% repaid

A portion of Bit's Group's $400 loan helped a member to buy fertilizer and cabbage seed.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jan 10, 2013
Listed
Mar 1, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 19, 2014