Chanthida has struggled to feed and care for her children by farming rice on 2.5-hectares of farmland. She has been in this business for 15 years, while her husband is a paid worker in the local area. Together, they can earn about KHR 45,000 per day and manage to save about KHR 17,000 each day for the future.
Chanthida has been with VisionFund Cambodia for two cycles and completely paid back the past loans which have helped her to have enough household supplies. Now, she is leading her group to ask for another loan with VisionFund Cambodia.
Chanthida wants to use her portion to buy seeds, fertilizer, and pesticides for her farmland. She hopes to grow her rice healthily and to earn more healthy crops in the future to make a better living and to keep her children in school.
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.
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.
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Success!! The loan was 100% repaid