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Phorn's Group
In this Group: Phorn, Chanti
Age 56 and a rural villager from Ek Phnom district of Battambang Province, Phorn is also a father of eight children. Currently, some of his children are still in school and some are helping in the family’s business. He is a peasant who grows rice and soybeans as a primary source of income in order to cover the daily cost of living for the rest of his family. Phorn has been engaged in this business for several years. Now, he is in need of working capital in order to be ready for the replanting period in the upcoming dry season. Therefore, he formed a group of two in order to apply for a new loan with VisionFund. This is the third loan for Phorn with VisionFund (Kiva’s partner). He has paid back his loans completely and it enabled him to sustain his living and improve his livelihood gradually. This cycle, he is seeking 1,000,000 KHR and his co-borrower is applying for 1,200,000 KHR. As a group leader, he will spend his loan portion to purchase potash and to pay the plowing fee. He hopes to grow his rice seasonally and get back a good yield to maintain his lifestyle.

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
  • 96
    View loans »
    Cambodia Loans Fundraising
  • $36,158,875
    Funds lent in using Kiva
  • 3,983.0
    Cambodia Riels (KHR) = $1 USD

Success!! The loan was 100% repaid

A portion of Phorn's Group's $575 loan helped a member to purchase potash and to pay the plowing fee.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jan 11, 2013
Listed
Mar 1, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 19, 2014