She has struggled to feed and care for her children by farming rice, raising pigs, planting cassava, and supplementing family’s income by distilling alcohol. She has been in this business for twenty years. She can earn about KHR 40,000 per day to meet the family’s needs. The main challenge for her business is the low price of cassava in the market.
Yorn received her first loan with Kiva’s partner, VisionFund, a cycle ago and completely paid back the loan, which has helped her to relieve her family’s burden and improve their livelihood.
Now she is leading her group of two to apply for a loan with VisionFund. Yorn will use her portion to buy fertilizer and rice seed for her farmland and a portion of it to buy the pig's feed.
She hopes to sell the cassava and pig for a good price in the market, so as to improve her 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