She deals with her family’s hardship via one hectare of rice growing and pig-raising. Her husband also helps in making more income through working at the fishing community in the area. It is the business that she has been with for 15 years and is able to earn up to 41,700 KHR per day. Including this loan cycle, she is a fifth-time borrower with VisionFund (Kiva’s partner). She has stabilized her business to be in a good shape.
Now she joins a group composed of two female members. The total amount of their entire requested loan is 2,400,000 KHR. For Kea as a group leader, and whose loan portion is 1,400,000 KHR, she will use it to buy four pigs, pig feed and to fix a pigpen. She hopes to fatten her pigs to a healthy condition so she can sell them for a high price and gain more income so she can buy an additional plot of farmland for expanding her rice cropping business.
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