Pov, age 51 and an inhabitant of Pursat Province, is 51 years old and a widow. She has five children, only one of whom is still in school. For her, rice farming and pig-raising are the primary sources of income. She is able to earn up to 15,200 KHR from the current business that she has had for 16 years. She has been engaged with the current business for the past two cycles. She has repaid back her past loans with good progress, and she has supported her business on time. Moreover, she is able to set aside some money to buy grocery items for resale for extra income. Now, she is seeking 400,000 KHR while her joint members are applying for 600,000 KHR each. As the leader, she will spend her loan portion to buy more piglets to raise and pig feed. She hopes to raise healthy pigs, so she can make more profit.
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.