Thorn and her husband are hard-working farmers who earn a living by farming rice and raising pigs. They have farmed for almost 10 years. Sometimes, Thorn works for others for a fee. With the current business, they earn about 23,000 Cambodian riel per day to meet the family’s need.
Thorn has been with VisionFund for four cycles and has completely repaid previous loans, which have helped the family’s business. She is now leading her group in its request for a loan. As the leader, she will buy fertilizers, pesticides and seeds for her farmland and use a portion for labour.
She hopes this loan will enable her to increase her income and make a better living.
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