Mrs. Muong Pil Village Bank Group
With the farm, they have some problems because their rice field has infertile soil and it is time to plow. Thus, in order to improve the production of rice, Mrs. Muong P. decided to seek a loan to buy fertilizers. With the rest of the loan, she would like to hire some farmers to plow the rice field.
Mrs. Muong P. is the village bank president who has been selected by all the members consisting of 22 people located in Phnum Lonteah village in Takeo province. These members will be using the loan for different purpose.
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