The main source of her family's income is a dual income, as her husband works for others for a fee, while Chanra earns another income from rice cropping and a pig raising business.
This is the business that she has had for 10 years, earning about 28,300 KHR per day. Chanra has been with VisionFund (Kiva’s partner) for two cycles including this loan. The past loan enabled her to improve her living conditions and expand her business at a gradual pace; she has also repaid her past loan with success.
Now, in a group of two, she is a leader. She is seeking 1,200,000 KHR, while her joint member is applying for 500,000 KHR. As the leader, she will spend her loan portion on buying rice seed to plough into her rice farming business and pig feed.
She hopes that she can earn more income to expand her businesses on a larger scale.
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