Sokhy is 45 years old and is married with three children, two of whom are still in school. She lives in the Dambae district of Kampong Cham province and earns a living growing cassava and cashew. Sokhy has been in this business for seven years and she and her husband are able to earn about 47,000 KHR each day. She manages to save about 10,000 KHR each day after her family’s daily expenses. Sokhy has been with VisionFund for six cycles and has completely repaid her previous loans which helped her improve her standard of living.
Sokhy is the leader of a group loan request. She will use her portion to buy pesticide and fertilizer for her farmland. Sokhy hopes to increase her crop yield and 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.