Mrs. Yong Muth Village Bank Group
Mrs. Yong M. is a fruit seller in the local market where she is only able to earn a little bit of money because she has a small amount of capital. So to improve this business, Mrs. Yong M. is applying for a loan to buy more sapotas (fruit of the Sapodilla tree) to resell. Her husband, Mr. Vy Seth, is a vegetable seller at the market where he is able to earn some money to support his family. Through this activity, they support five children, one of whom is a seamstress in garment factory, while the others are attending a local public school. All the children are also helping with their parents’ businesses.
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