Aged 56 years, Samey is a single woman who lives in a rural area of the Kror Kor district of Pursat province, Cambodia. The main source of the family’s income is from farming rice, which she has been doing for thirty-three years. She is able to earn around 10,000KHR per day and manages to save about 3,000KHR each day after deducting daily expenses. The main challenge for her paddy-field is insufficient funds for buying fertilizer.
Samey has been with VisonFund for four cycles while the other member is in his first cycle. She completely repaid the past loans which have helped her better support her rice-field. Samey is going to use her portion to buy fertilizer for her farmland. She hopes this loan will enable her to get a good quality yield so as to improve her livings conditions.
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.