A 30-year-old single lady from Kampong Cham province of Cambodia, Lot is a local farmer who manages a one-and-a-half-hectare area for cassava growing and another two hectares for rice growing. She has been involved in the business for 10 years. Including this cycle, Lot is a third time borrower with VisionFund (Kiva’s partner).
She has utilized her past loan in a gradual manner to support her business, and it also helped her to provide decent food for her children. Now, she will use her new loan amount to buy fertilizer, rice seed and insecticide for her farmland. She hopes to gain great growth of her business and to uplift her living status.
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.