Cheourn is 61 years old and married. She strives for a living via paddy rice farming on a five hectare area and supplements her income with bean growing on a three hectare area as well as cow raising. She has been involved in the current business for ages. Cheourn has been with VisionFund (a Kiva partner) for the past five cycles. The past loan, which she has fully repaid, has generated better income than before from her business to maintain good living conditions for her family.
For this cycle, she forms a group of three to apply for a new loan. As the leader, she will spend her loan portion to plow her farmland and to buy rice seed, potash, and insecticide for her farmland. She has high hopes that she can grow a healthy and fruitful cash crop with an expected high crop 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.