Mr. Hoem B. is a farmer who owns a two-hectare field to grow crops. His wife, Mrs. Savorn Cheng, is a vegetable seller who earns a small income to support the family. In order to support his wife's business, Mr. Hoem B. has decided to ask for a loan to buy vegetables for resale and a bicycle for transportation. The couple has six children, two of whom are farmers who help their father, and the other four of whom are students in the public school and also help in their parent's business.
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