Leap was born in the Moung Russey district of Battambang province, and is the 54-year-old mother of six children, one of whom is in school. She covers her expenses by rainy-season paddy-rice farming on two-and-a-half hectares and supplements this income by working for others. The business that she has had for 15 years earns almost 40,000 KHR per day. She has taken out and repaid three prior loans, and is now part of a two-person group which is requesting a loan from Kiva partner VisionFund. Leap made good use of her prior loans to improve her family's life, and she and her other loan group member are now requesting 1,400,000 KHR each. As a leader, she will use her funds to buy fertilizer, insecticide, and to pay for labor. She hopes that she can improve her yield from last year's level.
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.