Mrs. Sopheap O. is the village bank president who has been selected by the members. She is a farmer who owns a 2-hectare (5-acre) field on which she cultivates rice to earn a living.
In this farming, Mrs. Sopheap O. now faces a small problE. because she does not have enough money to buy fertilizer to support the field to make her crop more productive. Thus, she decided to ask for a loan for this purpose and she would use the rest of the loan to buy pesticides and to hire a water pump to water her crops.
Mrs. Sopheap O. is the mother of five children, three of whom are employed in a garment factory while the others are attending the local school. Her husband, Mr. D. Sokhom, is a bed maker 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