Don is 58 years old and married with five children. He lives in a wooden house in a rural area of the Tbaung Khmum district of Kampong Cham province. Don has been a rice farmer for 20 years and this is the main source of his family's income. He is able to earn about 18,000 KHR per day and manages to save about 8,000 KHR each day after offsetting daily expenses.
Don is the leader of a three-member group loan. All of the members live in the same village. This will be his first loan cycle with VisionFund. Don will use his portion of the loan to buy fertilizer for his farmland and to plow his field. He hopes his loan will enable him to increase her rice crop to improve his standard of living.
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.