Residing in a rural village of the Sangke district of Battambang province, Roen is aged 61 years and married. She has four children. To support the family, she and her husband have been in the farming business for eight years. Beside this, they also raise cows to better support her field business. The current business earns her family about 25,700 KHR per day to meet her family’s needs.
Roen’s group consists of two members, and they have been with VisionFund for five cycles and completely paid back the past loans. Now she is leading her group to ask for a new loan of 1,400,000 KHR each. As the leader, Roen is going to use her portion to buy fertilizer and rice seeds for her farmland. She hopes this loan will enable her to earn a larger income to improve her family’s living conditions.
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.