Saret lives in a rural village of the Ratanak Mondul district of Battambang province, Cambodia. He is 46 years old and married. He has four children, two of whom are dependent on him and still in school. To support the family, he has been farming paddy rice on one hectare of farmland for ten years and growing corn on three hectares of farmland. He is able to earn about KHR 23,000 per day and save about KH 10,000 each day after offsetting daily expenses. Drought is the main challenge for his business.
Saret has been a member of Kiva’s partner, VisionFund, for six cycles already. He fully repaid back the past loans which have helped him to better support his children’s education and feed the family with sufficient food. Now he is requesting a loan with VisionFund of KHR 4,000,000. With this loan, he is going to buy seeds and pesticides for his farmland and use a portion of it to spend on a plowing fee for his field. He expects to grow his cash-crop on time so he can save some money for expanding his business: buying a mini-tractor, cows and an additional plot of farmland. In this way, he can upgrade his lifestyle progressively.
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.