Lerb is a villager from Siem Reap province’s Srey Snom district. She is a mother of three schoolchildren and a local farmer who grows rice and cassava as her main source of income. She is able to generate about 37,000 KHR per day from the current business that she has had for ages. With VisionFund (Kiva’s partner), she is a second time borrower requesting 1,200,000 KHR. Her co-borrowers are first-time borrowers applying for 500,000 KHR each. Lerb's past loan, which she has fully repaid, has enabled her to earn a decent income to buy decent food her family. As a leader, she will spend her entire loan portion to pay for plowing and to buy fertilizer for her crop. She highly believes that she can gain a better yield than last year with a good 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.