Originally from a rural village of the Tbaung Khmum district where farming is a common way to earn a living, Sokha, 37, is widowed with two children. She has been earning a living through selling fish and also by working for others for a fee. Having been in the fish selling business for eight years, she can earn about 100,000KHR per day to respond to the family’s needs, and she manages to save about 20,000KHR each day.
Sokha is with VisionFund for just this cycle. Now she is leading her group of two to apply for a loan. As the leader, Sokha is going to use her portion to buy more fish to resell. She hopes to earn more income for her family so as to make better living conditions.
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.