Mr. Mon Meas Village Bank Group
He is a farmer who owns a half-hectare of land to cultivate rice to sell to support his family. Aside from farming he is also a fisherman, while his wife, Mrs. SaR. Sum, is a seamstress in a garment factory and she is also a pig breeder.
Now this couple has some problems because their field is far away from aN. irrigation system. Also, their fishing boat is broken. So to solve these problems, Mr. Mon M. is applying for a loan to buy a pump machine, and rest of the loan will be used to buy food for the pigs and resin to mend his fishing boat.
Mr. Mon M. is the father of three children who all are studying in the local public school.
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