Mrs. Pak Uk Village Bank Group
Mrs. Pak U. is a village bank president who has been selected by members of the TrapE. Angk village in the Takeo province. The village bank loan consists of twelve people who will use their loans for different purposes.
Mrs. Pak U. is 39 years old, and she owns a general store in the local village. Her husband, Mr. Phally Leng, is a farmer who owns two hectares of land where he cultivates rice to support his family. Unfortunately, the rice field has infertile soil, and they do not have enough money to improve it. Thus, in order to improve the condition of the family's standard of living, Mrs. Pak U. decided to ask for a loan to buy fertilizer for the field. The remaining part of the loan will be used to buy groceries that she will resell. She is a mother of four children, one of whom helps the parents sell the groceries. Two of her children are enrolled in the local public school, and the youngest one is too young to study or work.
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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