Choeurn is 35 years old, married and blessed with four children. Her and the rest of her family rely on their rice cropping business in the Sangke district of Battambang province, where they reside. To supplement the family’s income, her husband also catches fish to sell. The 10 year engagement in the current business earns her about 27,500 KHR per day. This is the fifth cycle for Choeurn’s group which consists of two members. The past loan, which she has fully repaid back, has improved her lifestyle progressively. Now, she and her joint member are requesting 1,400,000 KHR each. As the group leader, she will use her loan portion to buy fertilizer, rice seed, and gasoline to pump water. She hopes that she can expand her business on a larger scale and make triple the income.
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.