A diligent local farmer from the Prey Chhor district of Kampong Cham province, Na is 52 years old and blessed with seven children. Currently, only one child still depends on her as he is still in school. To earn money for their daily basic needs, she grows rice on two hectares. To supplement the family income, her husband works as a carpenter, making chairs, tables, cabinets, etc. The current business earns her about 22,000 KHR per day. Including this cycle, she is a third time borrower with VisionFund (Kiva’s partner). Her past loans have improved her living condition progressively, and she also has paid back the entire past loans with success. Now, she is in a group of three in order to apply for a new loan. As a group leader, she will use her loan portion to buy fertilizer, rice seed, and to pay for the plowing fee. She hopes to re-plant her cash-crop on time so that she can make more profit to buy an additional plot of farmland for growing more rice.
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.