Mrs. Soun S. is a farmer who rents some pieces of land to cultivate corn and rice. They do not have enough money to support their farm. Thus, S. would like to ask for a loan to buy rice seed and corn seed to grow crops. She wants use the rest of the loan to buy fishing supplies for her husband's fishing business.Her husband, Mr. Savuth Nuon, who is 29 years old, works as construction worker, and he is also a fisherman. With their occupations, they are able to earn some income to support their family. This couple has two children who are too young to study or work.
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