She and her husband, Mr. Penh Vantha, are farmers who own a plot of land that they use to cultivate vegetables for a living. With the farm, they still can't earn enough income to support their family. Thus, P. wants to start a new business. She would like to ask for a loan to buy vegetables to sell; any remainder of the loan would be used to buy fertilizer to support her farming crops. This couple has four children: one is a construction worker and two are attending the local school while the other is just 4 years old and not in school yet.
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