Mrs. Loemheang Peurn Village Bank Group
Mrs. Loemheang P. is a farmer who owns a small field on which she cultivates rice for a living. Her husband, Mr. Saing Piseth, is a fisherman and he also charges batteries to earn an income.
In this business, her husband now faces a small problem because his generator is old so he needs to use a lot of fuel to run it. Thus, he wants to ask for a loan to buy a new generator to replace the old one. His wife decided to obtain the loan for this purpose.
Mrs. Loemheang P. is 34 years old and the mother of three children who are all attending the local school.
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