For her 8 years of engagement in the current business, she is able to earn up to 25,800 KHR per day. Her first loan with VisionFund, Kiva’s partner, was four cycles ago. The past loans - which she completely paid back - provided a positive impact on her lifestyle, as her living condition are getting better than before.
For this cycle, she is in a group of four seeking a new loan with VisionFund. The total of her group loan is 3,800,000 KHR, of which 1,000,000 KHR is the loan portion for Soeurm, as the group leader. Soeurm will use her portion to pay for plowing and labor fees, plus pesticide costs.
She hopes to grow her rice timely and gain more yield with high income, lest she can maintain her lifestyle.
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