A resident from a rural village of the Thmor Koul district, Botom is a 34-year-old mother of three children, all of whom are dependent on her and still in school. The main sources of the family’s income are from farming rice and working for others for a fee, which she has been doing for eighteen years. With her current business, she can earn about KHR 26,000 per day to spend on daily expenses.
This is the fifth loan for Botom with Kiva’s partner, VisionFund. She completely paid back the past loans which have helped her to better support her family and give them enough food. Now she is leading her group to ask for another loan. As the leader, Botom will use her portion to buy fertilizer for her farmland and use a portion of it to spend water pumping. She hopes this loan will enable her to increase her crop yield so as to make a better living.
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.