Vibol lives in a rural village of the Dambae district of Kampong Cham province. She is 31 years old and the mother of four children, all of whom depend on her and are still in school. She and her husband earn a living by growing cassava on two hectares of farmland. This is the family's main source of income. She and her husband have been in this line of work for almost five years and earn about 19,000 KHR per day. Vibol leads a two-person loan group, and is applying for her second loan with VisionFund. She successfully paid back the first loan, which helped her improve her life. She plans to use her portion of this loan to buy pesticides for her farmland and plow her field. She hopes to grow a healthier, larger crop as a way to improve her family's life.
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.