She has been farming rice on one hectare of farmland. Her husband also complements the family’s income by making palm juice and working for others for a fee. In this business for eight years, together they can earn about KHR 15,000 per day and build on KHR 10,000 for saving. Lacking water supply is the main challenge for her business.
Sarim's group consists of three members who live in the same village; this is the group's first loan with VisionFund. As the group's leader, Sarim will use her portion to buy fertilizer for her farmland and use a portion of it to spend on labor fees.
She hopes to grow her rice with good quality and higher yield, so as to sell it for a good price in order to make a better living and keep her children in school.
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