To support her family, Sin and her husband farm rice and catch fish. Having been in this business for 10 years, she is able to earn about 21,000 KHR per day but she manages to save about 9,000 KHR each day after daily expenses.
Sin has been with VisionFund for four cycles. She has completely paid back the past loans, which helped relieve her family’s burden. Now she is leading her group to ask for a loan of 1,000,000 KHR each. As the leader, Sin will use her portion to buy rice seeds and fertilizers for her farmland and use a portion of it to spend plowing the field. She hopes this loan will enable her to increase her family’s income. In this way, she will be able to earn a better living and keep her children in school.
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