She deals with the family's financial burden via rice cropping. To earn more income, her husband works at a construction site during his spare from the field. She has engaged in the current business for ten years, earning about KHR 28,000 per day.
Chroeb has been with VisionFund Cambodia (Kiva's partner) for seven cycles. She has wisely repaid her past loan to improve her lifestyle in a good way. Now, she is in a group of four to apply for a new loan.
Chroeb and two other members of Chroeb's Group are seeking for KHR 1,000,000 each, whereas a remaining member is applying for KHR 1,400,000.
As the group leader, Chroeb will use her loan portion to buy rice seed and potash for her farmland. She hopes to grow her crop in a timely manner and gain a high yield for her children's sake.
About VisionFund CambodiaVisionFund 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.
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Success!! The loan was 100% repaid