A resident from a rural village of the Phnom Kror Vanh district in the Pursat province, Pov is a 31-year-old mother of two children. They both are dependents and still in school. The main source of the family’s income for the past several years has been is rice farming. Her husband supplements her income by working for others for a fee. With her current business, she and her husband can earn about KHR 39,000 per day, and can save about KHR 15,000 each day after covering their daily expenses.
Pov's group consists of three members who live in the same village. This is her first microloan from VisionFund. She is now leading her group to ask for a loan. Pov will use her portion to buy fertilizer for her farmland. She hopes to grow a lot of rice to improve her standard of living and keep her children in school.
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.