Nai, 49, is a mother of two schoolchildren out of eight children and a resident from Kampong Cham province, Cambodia. To overcome the family’s daily cost of living, she grows rice on two hectares of farmland and supplements the family income via cassava cropping. She has engaged in the current business for 20 years and is able to earn up to 17,000 KHR. She manages to sustain her living, especially in affording daily food for her children, as well as keep her children in school.
Nai is a third cycle client with VisionFund (Kiva’s partner). Now, she is in a group of three to apply for a new loan. She will use her loan portion to lease cassava farmland to enlarge the plantation scale. She hopes to grow her crops seasonably and get more income to stabilize her 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.