Voeurn is a 52-year-old, married man with two children in his care, and he lives in the Kratie province of Cambodia. He is a construction worker, and has been doing this job since 2013. His wife is a 51-year-old; she earns her main income from cultivating rice and fattening breeding cows for calves to sell. One of his children is a factory worker, while the other one is a student.
Voeurn is pictured first from the right. He is a group leader and would like to request a loan as part of a group of four members. He will use his portion to buy wooden pillars to build a stable for his wife’s business. This loan will allow him and his family to have enough of a place for their cows.
In the future, he is going to build a ground floor room, buy more cows to fatten, and support his youngest child to earn higher education.
KREDIT Microfinance Institution Plc., is one of Kiva’s most established partners in Southeast Asia. The organization empowers the economically-active poor and small entrepreneurs by providing inclusive financial services. Beyond loans, KREDIT offers low-income clients complementary training in debt management, savings and budgeting. In addition, KREDIT partners with NGOs to offer training in primary health care, agricultural techniques and HIV/AIDS awareness.
For more information on KREDIT, please visit its partner page. If you would like to engage more with KREDIT and its borrowers, you can also join its lending team, KREDIT MFI Cambodia.
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.