Sopheap and her husband are farmers who grow cassava on one hectare of farmland and sell grocery items in a village. Having been in this business for six years, together they can earn about KHR 52,000 per day.
Sopheap has been with VisionFund Cambodia for two cycles while the other member has been with VisionFund Cambodia for four cycles. Sopheap fully repaid the loans and she has successfully used the loans to better support her children's education. Now she is leading her group to take another loan.
As the leader, Sopheap is going to use some of her portion to buy pesticides for her cassava and some of it to spend on labor to plow the field. She hopes to grow her business and make more crops, to make a better living.
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