A local villager living in Dambae province of Kampong Cham province, Sameur is married and 44 years old. She has seven children, but only two children are under her dependency as they are still in school. She deals with the daily cost of living via farming cassava and rice. She has been farming for 20 years and is able to earn up to 38,000 KHR per day. This is the second loan for Sameur with VisionFund (Kiva’s partner). She has completely repaid her past loan, which she used to support her business. Now, the total amount of her group loan is 9,000,000 KHR. Sameur, the group leader, has a loan portion of 1,200,000 KHR. She will spend her portion of the loan to plow her farmland and to buy potash and insecticide for her farmland. She hopes that she can gain a high yield from her current business and maintain a good living condition for her family.
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.