The main source of her family's income is from rice-farming, though her husband supplements the family’s income by working for others for a fee. They have been in these businesses for almost ten years. Their current businesses allow them to earn approximately 20,000 KHR per day and to save approximately 4,000 KHR per day for their future needs. Drought is the main challenge for her rice-farming business.
Thorn has been with VisionFund for two loan cycles and proudly explains that she repaid the previous loans. The other team member has been with VisionFund for four loan cycles. The previous loans have helped her better support her family. Now she is leading her group of two to ask for a loan with VisionFund. Thorn will use her portion of the loan proceeds to buy fertilizers for her farmland and to pay fees for a water pump so that her rice plants can be harvested. She hopes this loan will enable her to grow more and better rice than before, which will in turn enable her to generate more income, improve her family's standard of living, and pay for her children's education.
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