Growing rice, oranges and Jackfruit are the main sources of her family’s income to make living. She has been in this business for 10 years. With the current business, she can earn approximately 45,000KHR per day and save about 15,000KHR each day for the future needs.
Her husband works as a motor-taxi driver.
This is the second micro loan for Samith with Kiva’s partner, VisionFund. The other member has been with VisionFund for six loan cycles. Samith completely repaid her loan and is the group leader.
Samith will use her portion to repair an old motorbike for her husband’s business. She hopes this loan will enable her to repair it so he can provide better service to his customers.
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