Thoern, 36, is married and lives with her family in a village in the Moung Russey district of Battambang province, Cambodia. She has four children, two of whom are dependent on her and still in school, while the other two are still too young for school. For the last ten years, Thoern and her husband have been farming rice on a six-hectare farm as the family’s main source of income. Together, they can earn about 25,000 KHR per day from the current business. Thoern has been with VisionFund for two cycles, while the other member of the group has been with VisionFund for one cycle. Thoern completely repaid the past loans, which have helped her provide her family with sufficient food. Now she is leading her group to apply for a loan. As the leader, Thoern is going to use her portion of the loan to buy rice seed and fertilizer for her farm. She hopes this loan will enable her to achieve higher crop yields, so she can earn a better living and keep her child in school.
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.