Mrs. Sophon C., 40, has been selected as the village bank president by the other members. She is a farmer who owns one hectare of land for cultivating rice. She will use the loan to buy a grass-cutting machine for cutting vegetation on her farm. Aside from being a farmer, she also sews clothes for sale, while her husband, Mr. Sambok Kong, is a teacher in the local school. With their occupations, they are able to earn a small income to support their family. The couple has six children; two are at home and support their mother farming, while the other four are students in the local 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