Pov is 39 years old, married and lives with her family in a rural area located in the Sangke district of Battambang province. She is a mother of four children, two of whom are dependents and still in school. She earns a living through selling various kinds of vegetables and sometime she works for others for a fee. Pov can earn about KHR 33,000 per day from the current business and is able to save about KHR 18,000 each day for the future.
This is the fifth loan for Pov with VisionFund. She has used the past loans wisely and successfully to improve her family’s livelihood. Now she is leading her group to ask for a loan. Pov, who is the leader, will use her portion to buy more vegetables to resale. She hopes to make more income so as to improve her family’s living conditions.
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.