Theourn is 57 years old and blessed with two children. The rest of her family is residing in Kampong Cham province and mainly depends on growing rice on one hectare as the main source of income. She has been engaged in this business for 33 years, and it has given her returns of about 37,000 KHR per day. This is the first loan for Theourn with VisionFund, Kiva’s partner.
She is the leader of a group of four female members. The total amount of their group loan is 2,300,000 KHR, out of which 200,000 KHR is the loan portion she has requested. Theourn will use her portion of the loan to buy fertilizer for her farmland. She hopes to make more income so she can maintain a good standard living for her family.
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.