She manages her household expenses as a single mother through pig-raising and clothes selling, which she has been doing for ten years; this provides about 16,700 KHR.
Sol has had four loans with VisionFund, including this cycle. She has fully repaid her loan with success. The past loan has uplifted her living conditions gradually.
Now, she is in a group of three members, alll of whom are seeking the same loan amount of 1,400,000 KHR each. As the group leader, she is going to spend her loan portion to buy more pigs for raising and clothes for resale.
She has high hopes that she can raise her pigs well, and replenish her clothes selling business on time, with a good 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