A local villager from Ek Phnom district of Battambang province, Saroeurt is 50 years old and has one son. For her, rice farming is the core income-generating business to support the daily cost of living. She has been farming for ten years. Including this loan, she is a third-cycled client with VisionFund (Kiva’s partner). She has smartly used her loans to improve her lifestyle and relieve her family’s burden. Now, she leads a group of two to apply for a new loan. As the leader, she will spend her loan portion to buy potash, rice seeds, and to pay for plowing fees. She hopes that she can earn more income so that she can run a small grocery stall at home.
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.