Sokhoun is the young mother of two children, one of whom is in school. Sokhoun lives in Battambang provice and makes a living by growing rice crops and selling desserts. She has been in this business for ten years. For ages with VisionFund (Kiva’s partner), Sokhoun is a seven time borrower who has completely repaid back her past loans already. Her previous loans have supported her business and returned her a decent income to sustain her living, especially in providing daily food for her children. Now, she has formed a group of two to apply for a new loan. As the group leader, she will spend her loan portion to plow her farmland and to buy rice seeds for replanting. She hopes that she can gain a triple yield so as to upgrade her living status gradually.
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.