This is the fourth cycle loan for Cheng with Kiva's partner, VisionFund. The past business loans, which she successfully paid back, have helped her to improve her living conditions as well as her business in a gradual manner. This cycle, she is applying for an education loan in amount of 200 U.S. Dollars to cover the entire tuition fee for four years for her daughter, a 24-year-old freshman in a local university specializing in agriculture. She sincerely hopes that this loan will enable her to send her daughter to university and also help her son to obtain a higher education background and end up with a good job after graduation in order to support the family.
More information about this loan
This loan is part of VisionFund Cambodia’s higher education program, designed to provide financing to students in poor households who otherwise lack the financial support to continue their studies. Very few students have the financial resources necessary to go to college. VisionFund Cambodia has designed a lower-interest rate loan product for students, given the financial benefits associated with financing this loan upfront on Kiva. It is disbursed to the borrower in annual installments.
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.
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Success!! The loan was 100% repaid