Sambath, originally from Banteay Meanchey province, is 58 years old and married. She has five children, one of whom is in school. To deal with the daily cost of living,she raises fish for sale. This is the fifth loan for Sambath with VisionFund (Kiva’s partner). She has paid back her loan completely and it has improved her living conditions promptly. For this cycle, she joins a group of two to get a new loan. She will spend her loan portion to buy fish feed. She hopes that she can fatten her fish healthily so as she can sell them at a good price.
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.