Location: Dangkao District, Cambodia
Loan: $1,000 for new motorcycle and home Loan Repayment: 18 months
Loan Partner: Credit MFI — World Relief
“Kim Vanny is a very busy woman. In addition to her fruit sales business, she spends much time taking care of her four daughters, two sons, and grandmother. Kim Vanny earns about $3.75 from her fruit sales each day. Her husband is a motor bike taxi driver, and earns about $2.50 a day. Her oldest son also works, and earns about $2.25 per day. She is applying for a $1,000 loan. She is planning to use $300 to help her husband purchase a new motor bike so that he can increase his taxi business. She plans to use the other $700 to help pay for the new home they would like to build. She is very excited about being able to provide her family with a better home, and she anticipates increased income from the new motor bike.”
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Principal Loss Scenarios
I understand that Kiva, its partner organizations and the entrepreneurs listed on Kiva’s website will do everything in their power to repay my loan money to me, without interest. To this end, I understand that Kiva or the partner may restructure the repayment plan and/or, in special circumstances, extend the length of the loan term to create the greatest possible chances of my money being returned to me.
If, in the end, factors beyond Kiva’s control result in less than 100% of my money being returned to me, I agree to forgive Kiva, its partners, and the entrepreneurs for the lost money. I also understand that I can consider any amount of unreturned loan money as a capital loss.
Kiva will officially deem a loan to be in default if it is not repaid in the allotted loan term agreed upon. In this case, lenders will have the option to recover whatever principal has been repaid up
to that point.
In the extremely unlikely case that the entrepreneur to whom my money was lent or I myself dies before the end of the loan term, I and my estate hereby forgive all outstanding loans.
KIVA Loans That Change Lives
3 October 2006
The business you have loaned to, Kim Fruit Sales , has made a repayment of $56. The total amount repaid up to now is $56. The payment was collected and deposited by Amber Hirschy. This repayment will be divided amongst all the lenders who helped to fund this business, depending upon the percentage each lender contributed. Note that you cannot actually withdraw or reloan these funds until after the loan term is complete.
Considering my percentage of the loan I received $1.40, which means a 2.5% interest in Vanny Kim.