A 36-year-old single lady originally from the Moung Russey district of Battambang province (Cambodia), Sort does rainy season paddy farming on two hectares of farmland as her primary source of income. She also runs a small stall for selling grocery items as well as fruit. Sort has been with VisionFund for two loans and has completely paid back with success. She has used it in a wise manner to improve her lifestyle and maintain good progress in her business. Now, she has formed a group of three to seek a loan of 1,400,000 Riels (KHR) each. She is the leader of this group. Her loan's portion will be used to buy five sacks of fertilizer and rice seed. She expects to gain high yield so as she can make more income for expanding her business.
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.