Sreysor, a villager from Sa Ang district of Kandal province, is 30 year old and married. She has two children in school to cater for. Her family’s main source of income is from fish catching for resale, which she has been involved with for seven years and it has returned her about 23,000 KHR per day. This is the fifth loan for Sreysor. She has fully repaid back her past loan wisely to upgrade her lifestyle and she can manage to buy a decent motorbike to support her business. As a leader, she will spend her loan portion to buy a boat and fishing net to support her business. She hopes that she can catch more fish for sale and make more income.
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.