Mrs. Vasna Maen Village Bank Group
Mrs. Vasna M. and her husband, Mr. Sokoeun Kong, are farmers who own a 1-hectare plot of land in which to cultivate rice to sell to support their family; moreover, she is a Khmer cake seller in the local village while her husband is a barber. Through those activities, they are trying to work a lot but they cA. earn very little money to support their family.
So to improve this condition, Mrs. Vasna M. is seeking a loA. to buy two piglets for breeding to start a new business. With the rest of the loA., she will purchase fertilizer. She is a mother of five children, two of whom are seamstresses in a garment factory, while two others are studying in school and the youngest one is 6 years old.
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