Chaileat, age 36 and a villager from Kampong Cham province, is a mother of three dependent kids. She supports her family via rice farming. The current business, which she has been with for 13 years, earns her about 34,000 KHR per day. Her past loan was the original loan with VisionFund (Kiva’s partner). She has fully repaid back her past loan already and it has sustained her business better than before. Now, she and her joint borrower are seeking for 500,000 KHR and 1,200,000 KHR, respectively. As the leader, she will spend her loan portion to buy fertilizer for her farmland. She highly believes that she can earn a higher income to better support her living.
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.