Ngi is a mother of six children in her mid-50s. She is a resident of Battambang Province’s Sangke District. She raises chickens and sells desserts to earn the daily costs of living and sustain her family. Her husband helps support her via working as a schoolteacher. She has been involved in her current business for two years, and it has returned to her about 34,000 riels per day. This is the first microloan for Ngi with VisionFund (Kiva’s partner). In her group of two, she is the leader. Ngi will spend her loan portion to buy more chickens to raise and more ingredients for making sweets to sell. She hopes to double her income to upgrade her lifestyle.
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.