A 39-year-old married father of three kids (two schoolchildren and one a farmer), Ye is a resident from Kampong Cham province, Cambodia. He manages four hectares of cassava growing and a half hectare of rice growing, from which he is able to earn up to 41,600 KHR per day. This is the third microloan for Ye’s group, consisting of two members, including him. He has paid back his past loan completely and it has supported his business in timely fashion as well as improving his living at a good pace.
Now, he and his co-borrower are seeking 4,000,000 KHR each. As the group leader, Ye will use his loan portion to lease an additional plot of farmland for growing more cassava, and to pay for weeding and for buying pesticide. He hopes to gain triple yields and earn more income for his family’s sake.
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.