Mr. Houy Um Village Bank Group
Mr. Houy U. is the village bank president who has been selected by the village bank members. He is a fisherman who can catch a little fish for his living. His wife, Mrs. Oak Lo, assists him with the fishing business. Mr. Houy U. is 55 years old and the father of seven children, four of whom are employed in a garment factoR. while the other three are attending the local school.
Although Mr. Houy U.’s family members have different business activities, they still provide a better living for the family. In order to improve their living conditions, Mr. Houy U. decided to ask for a loan to conduct a motorcycle repair business in the local village.
About AMKAngkor Microfinance Kampuchea (AMK) is a leading microfinance institution in Cambodia with a wide reach of operations. AMK works with over 6,000 villages and serves clients in every Cambodian province. With an average loan size of US$115, AMK’s focus is to provide credit and savings products to the very poor in rural areas. For more information, please visit AMK's website.
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