Residing in the Moungkul Borey district of Banteay Meanchey province, Sreypich is 27 years old, married, and has two children who are still in school. She earns a living by buying and selling shampoo in her village, while her husband earns extra income by working as a paid taxi driver. Having been in business for six years, Sreypich and her husband are able to earn about KHR 20,000 per day, and he manages to save about KHR 7,000 each day after covering daily expenses. Sreypich has been with VisionFund for three cycles, while the other member of the group has been with VisionFund for two cycles. Now, she is leading her group to apply for a loan. Sreypich, who is the leader, will use her portion of the loan to buy more shampoo for resale. She hopes to increase her yield so as to make more income for her family.
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.