Mars is 41 years old, married, and a mother blessed with two sons. To cover the daily costs of living, she grows rice and works for others for a fee. She has been involved in the current business for ages with a decent income in return. This will be the fifth loan for Mars and her joint-borrower with VisionFund (Kiva's partner). The past loans, which she has fully paid back, have enabled her to uplift her lifestyle better than before. For this cycle, she is seeking for 700,000 KHR, whereas her co-borrower is applying for 500,000 KHR. As the leader, she will spend her entire loan portion to pay for plowing fees. She strongly believes that she can prepare her farmland on time, so as she can replant her crop seasonably.
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.