Ky is a 42-year-old mother of four children living in a rural village of the Dambae district, Cambodia. All of her children are in school. To make a living, she and her husband have been farming rice and growing cassava for 22 years. They supplement their income by working for others for a fee. Ky's current business earns her about 36,000 KHR per day to meet her family’s needs. She has been with VisionFund for one cycle and used her previous loan to help relieve her family’s financial burden.
Ky is the leader of a three-member group loan. She will use her portion of the loan to buy pesticide, seeds, and fertilizer for her cultivated land. Ky hopes to earn more income from her farm to make a better living and keep her children in school.
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.