Pin, aged 40, is a married woman living in a rural village of the Prey Chhor District, Kampong Cham province. She has to be responsible for all her four children as they are still in school. For their sake, she and her husband grow paddy rice to make a living. They have engaged in this business for 16 years. For the one cycle that she has been with VisionFund, she has paid back the entire loan already and used it successfully in making good progress with her household and keeping her children in school. Now she leads a group of four members to seek a new loan. She will use her loan portion to buy fertilizer and seed for her farmland. She hopes to earn more income so as to keep her children in school.
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.