Leangsroy is a local farmer who grows rice and soybean as her main source of income. She is widow and mother of two schoolchildren and two little kids residing in Kampong Cham province. This business, which she has been involved with for 14 years, has returned her about 24,500 KHR per day. For this cycle, she leads the first microloan group consisting of three female members. They are seeking for the same loan amount, 1,000,0000 KHR each. As the leader, she will spend her loan portion to buy potash and to pay for transplanting fees. She highly hopes that she can boost her crop productivity on time and gain triple income so that she can save up some money to buy more pigs for raising as additional income.
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.