A rural villager from Kampong Cham province, Tbaung Khmum district in Cambodia, Sambo is married and has four children, one of which is still in school and is dependent on her. She and her husband plant rice on a half hectare of farmland as a main source of their income and buy and sell chicken, and sell grocery items to supplement their income. Sambo has been involved with the current business for 36 years and it has returned her about 35,000 KHR per day to support her family's daily expenses.
This is the first cycle loan for Sambo with VisionFund. Now she leads a group of three to apply for a loan with VisionFund in loan amount of 1,000,000 KHR each. As the leader, she will use her loan portion to buy chicken for resale. She hopes to increase her income to improve her 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.