Mrs. Phalla M. is 43 years old and was selected by 10 group members to be the village bank president. She lives in the village of Koh Chamroeun in the Kandal province. Each member of this group loan will use their part for different purposes. Mrs. M. owns a small store where she sells groceries. Mrs. M. decided to ask for a loan so she would be able to buy more groceries to expand her business activities. Her husband, Mr. Saroeun Khut, is a construction worker. He earns a small salaR. to support his family's living situation. The couple has three children; one is attending a local school, while the other two are 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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