A woman in her late thirties from the Kampong Cham province, Tol is married and has four children. Her main source of income is from one hectare of rice cropping. She has additional income from her husband's occupation as a motor-taxi driver. She has been involved in her current business for 20 years, earning about 34,500 KHR per day. Tol and the other three borrowers are new to VisionFund (a Kiva partner). Now, she is seeking her first loan to buy insecticide and a good fragrant rice seed to replant. She really hopes to have a higher income to expand her business.
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.