Mr. Sareth Meng Village Bank Group
Twenty-two people who all live in Kampong Svay village in Kandal province make up the village bank loan group. They will all use the loan for different purposes. Mr. S. M. was selected by the members of the group to be the village bank president. He is a farmer who cultivates rice. Aside from his plantation, he is also a fisherman. He is requesting this loan to buy more fish nets for fishing. His wife, Mrs. Chheng Seap Ly, is a housewife. Mr. S. M. is 44 years old and the father of five children. Two of his children are laborers, two of T. are attending the local school, and the youngest child is too young to work or study.
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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