Srey Nganh's Group
Srey Nganh earns a living by farming rice on a two-hectare plot of farmland. Her husband assists in the rice-growing business and also works as a paid worker in order to add more income to the family. Together Srey Nganh and her husband are able to earn around 48,000 KHR each day.
Srey Nganh has already been with VisionFund (Kiva’s partner) for one loan cycle. With her first loan, she was able to support her rice field and secure food to meet her family’s needs. Now she is leading a group with another member who has been with VisionFund for three loan cycles to apply for a loan in the amount of 1,200,000 KHR each. As the group leader, Srey Nganh, will utilize a portion of her loan to purchase fertilizer and rice seed to help keep her rice field in good shape. She will spend the other portion of her loan to buy gasoline. This hard-working woman would love to see the improvement in her business as well as an increase in the profit she earns. She will use the anticipated income to move her family ahead and, most importantly, to advance her beloved children’s education as far as possible.
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