Thaet is aged 32 and a rural villager from Tbaung Khmum district (Cambodia). She is married and has three children who are students. To provide daily sustenance for her children, she has managed her two-hectare area for growing cassava and about one and half hectares for growing rice. She has 12 years of experiences in the current businesses and can earn about 12,000 KHR. Thaet is a second-time borrower for this loan cycle. The first loan, which she has paid back on time, has provided her with working capital to pay her rice harvesting fee and her cassava weeding fee. Now, in a group of three women members, she is a leader. Thaet and one of her co-members are requesting 1,200,000 KHR each, whereas the other member is applying for 1,000,000 KHR. Her loan portion will be used to buy fertilizer for her farmland for both cash-crops. She hopes to receive a good yield so she can double her profit to keep supporting her household, especially her children's education.
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.