Chhoeurt is not a new client to VisionFund. She is the seven-cycled client and has fully repaid back her previous six loans. She is in a group of three who are requesting a new loan. She is seeking 1,400,000 KHR while her co-borrowers are requesting 700,000 KHR each. As the leader, she will spend her loan portion to pump water for her rice farm and to buy pesticide for her farmland. She hopes that she can minimize the loss due to pests and boost her crop productivity so as she can earn more income for her family as well as to set aside some money for the future.
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.
112View loans »
Success!! The loan was 100% repaid