A villager from Moung Russey district of Battambang province, Thy is 34 years old and a married mother of four kids, two schoolchildren and two under-aged kids for school. She earns a living via rice farming and a dessert selling business, which she has done for 14 years. This is her fourth cycle for Thy with VisionFund (Kiva’s partner). She has repaid back her past loans with success and it has enabled her to improve her lifestyle. Now in a group of three requesting a loan, she is the leader. She will spend her entire loan portion to buy ingredients to make more dessert for resale. She hopes that she can improve her 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.