Mrs. Chhong Mam Village Bank Group
This village bank loan includes twelve members who all live in Sdok village in Takeo province. Mrs. Chhong M. is the village bank president and was selected by all the members. Each member of the group will use their portion of the loan for a different purpose.
Mrs. Chhong M. is a farmer who owns one-hectare of land on which she cultivates rice to support her family. She is a widow with three children, who all are enrolled in the local public school. However, this family tries to work hard in the field so they can earn more income. In order to improve the condition of her family's standard of living, Mrs. Chhong M. wants to breed pigs but she does not have enough money to buy it. Thus, she decided to ask for a loan to buy some piglets for breeding.
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