Pom is a 35-year-old married mother of five children who lives in the Dambae district of Kampong Cham province, where she earns a living by growing cassava. She has been in this line of work for 17 years and earns up to 21,700 KHR a day. She uses her income to support her three children, all of whom are in school. She has received three previous loans from VisionFund, and repaid them after using the money to expand her business and keep her children in school. She leads a two-person loan group, and will use her portion of this loan to buy fertilizer, rice seeds and pesticide, and to pay a plowing fee. She hopes to increase her income and help her family live a better life.
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.