Originally from Kror Kor district of Pursat Province, Sin is a local farmer who does rice cultivation as her primary source of income and supplements the family’s income with a pig-raising business. From the current business, she is able to earn up to 23,500 KHR per day. Including this loan, Sin is a second-time borrower with VisionFund (Kiva’s parter). She has fully repaid her past loan, which enables her to run both businesses smoothly. Now, she formed a group of two to apply for a new loan of 2,000,000 KHR each. As the leader, she will spend her loan portion to lease an additional plot of farmland to grow rice. She hopes to increase her income and make a good profit to sustain her good living conditions.
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.