Eng Srun's Group
To earn a living, she plants and grows cassava. She explains that she has been in this business for nine years and that she earns approximately 25,000 KHR per day from her farming opreations.
Eng Srun is new to VisionFund for this loan cycle. She is leading her group to ask for a loan. As the group leader, Eng Srun would like to use her portion of the loan proceeds to buy fertilizers and pesticides for her farmland, but she would also like to use a portion of the proceeds to pay for labor fees. She hopes to increase her crop yields and to earn more income in the future so that she can improve her family's standard of living.
About VisionFund CambodiaVisionFund 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.
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Success!! The loan was 100% repaid