Raksa is 30 and married with three children, all of whom are dependent on her and still in school. She lives with her family in a village of the Ek Phnom district of Battambang province. Raksa and her husband are rice farmers. They have been in this business for eight years and earn about 47,000 KHR each day after their daily expenses. Raksa has received four previous loans through VisionFund. She used the profit from her loans to help relieve the financial burden on her family.
Raksa is the leader of a three-member loan group with VisionFund. She will use her portion of the loan to buy fertilizer and rice seeds for her farm as well as pay for land plowing and labor. With her loan, Raksa hopes to grow more crops and sell them for a good price to improve her living standards.
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.