The common business among her neighbors in her residential area is rice farming. She also manages a five-hectare area to grow rainy season rice as the main source of income. To better feed the family, her husband also works for others for a fee for extra income. The five years involvement in the current business has returned her about 26,100 KHR per day.
This is the second loan for Mao with VisionFund (Kiva’s partner) while her co-borrower is the first-time client. She has used her first loan wisely to uplift her living condition at a good pace. Now, she is seeking 1,200,000 KHR while her co-member is applying for 1,000,000 KHR.
As the group leader, she will spend her loan portion to buy potash and insecticide for her farmland. She hopes that she can earn a higher yield than before.
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