An elderly mother of nine children living in Sa Ang district of Kandal province, Sitha is a local farmer who grows mango. Her husband also help her to earn extra income via working as a paid worker by spraying insecticide on others' mango plantations and vegetable gardens. This is the business that she has had for ages and it has returned her about 20,000 KHR per day. Sitha is a first-cycled client with VisionFund (Kiva’s partner). She is now leading a group of two to get a new loan of 1,000,000 KHR each. As the leader, she will spend her loan portion to buy fertilizer and insecticide for her mango plantation. She hopes to gain a good yield and triple her income to improve her living condition.
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.