Mrs. Lorn Nurn Village Bank Group
Mrs. Lorn N. is the mother of three children, two of whom are employed in a garment factory while the other one is a student in the local school. She and her husband, Mr. Mom Makk, are farmers who own a 1-hectare (2.5-acre) field on which they cultivate rice to support the family living. In this farming, they now face a problem because the field does not have enough water to grow rice.
Thus, Mrs. Lorn N. decided to ask a loan of 600,000 Riel from AMK to buy a water pump to support their rice field.
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