Samet, a rural villager from Pursat Province, is 61 years old and married. She and her husband are blessed with five children, two of whom are still in school. To provide daily food for her kids, she earns a living via rice cropping on two hectares of land while her husband catches fish for resale. The business that she has had for 12 years has returned her about 19,700 KHR per day. Having been with VisionFund (Kiva’s partner) for some time, Samet is a six-cycle client who has repaid her past loans already. The loans made a positive impact by enabling her to provide decent food for her kids and maintain her living. Now, she is in a group of two to apply for a new loan. As the leader, she will spend her loan portion to plow her farmland in order to be ready for upcoming rainy season rice cultivation. She hopes that her business will grow at a good pace and return to her a good output.
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.