Living in a rural village of Battambang province’s Thmor Koul district, Nay is a 31-year-old married mother of four dependent children, two of whom are still in school while the remaining two are too young. Nay and her husband have earned a living farming rice, garlic, and cabbage for ten years. The current business earns Nay about 18,000 KHR per day, and she manages to save about 10,000 KHR each day for future needs.
This is the first loan for Nay’s group with VisionFund. Nay, who is the leader of her group, will use her portion of the loan to buy fertilizers and pesticides for her farmland. Nay hopes to increase her current business and also hopes to make more income to improve her family’s 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.