Sona’s group consists of two female members and she has been with VisionFund for four cycles while the other member has been with VisionFund for one cycle. Together, they can earn about 49,000 KHR per day from the current business and can manage to save about 11,000 KHR each day.She completely paid back the loans with VisionFund. The past loans have helped her better support her family.
Now she and her group member are applying for a loan of 1,400,000 KHR and 500,000 KHR, respectively. As the leader, she will use her portion to buy fertilizer for her farmland and use a portion of it to spend for buying pig feeds. She hopes to increase her crop yield so as to sell them for a good price so as to increase income.
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