Mrs. Saly Vong Village Bank Group
Mrs. Saly V. is a farmer who owns 1 hectare of land to cultivate rice for living. Her husband, Mr. Dorn Touch, is a construction worker who receives a small salary to support his family. This couple has three children: one is a seamstress in a garment factory while the others are attending the local school. In order to increase her income to support the family, Mrs. Saly V. wants to start a new business. Thus, she decided to ask for a loan to add to her savings to dig a pond for fish breeding.
Mrs. E. Leng is the group guarantor, so she is in the photo too. All the members are present in the photo, but some of them are blocked.
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