Sarou, 48, lives in a rural village of the Pursat province’s Sampov Meas district. She is married and has four children, two of whom are still in school. To earn a living, she has been farming rice for ten years. To complement the income, her husband also works for others for a fee. The current business earns her about 29,000 KHR per day, but she can manage to save about 15,000 KHR each day after daily expenses.
Sarou is a fifth-cycle client with VisionFund. Now, she is leading her group to ask for a loan. As the leader, she is going to use her portion to renovate her old house. She hopes to have a decent house for her family to live in.
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.