Mr. Peng Leang Heng Village Bank Group
Mr. Peng Leang H. is the 42-year-old village bank president. He is a farmer who owns a piece of land on which he grows vegetables. He faces an obstacle because he does not have enough money to buy vegetable seeds. Thus, he has decided to ask for a loan for this purpose. He hopes to increase his income and improve his family's living conditions with this loan. His wife, Mrs. Tin Tub, is a hard-working woman. This couple has three children who attend the local school. Mrs. H. Leang Hort, the group guarantor, appears in the picture with the group members.
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