Ran is a rural villager in Kampong Cham province, Cambodia. She is 43 years old and has one child. To support her family, she raises pigs as the main source of her family’s income and works as a paid worker who taps rubber trees to collect latex at a rubber plantation as supplementary income. Having been in this business for 25 years, she can earn about 41,700 KHR per day. Ran has never been with VisionFund before. Now she and her co-member are applying for 500,000 KHR each. As the leader, she will use her loan to buy pig feed to nourish her pigs. She hopes to fatten them in a healthy condition so as to sell them for a good price to better her family's 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.