Mr. Pen Bros Village Bank Group
Mr. Pen B. is a village bank president who has been selected by the other members. He was born in 1972. He is a widower with four children, three of whom are studying in local public school, but the other one is too small to work or study. He is a farmer who owns a half-hectare plot of land where he grows rice to sell in order to support his family. Besides farming, he is a laborer and rock breaker, too. He does very hard work, and yet he can earn only a little income. So Mr. Pen B. is applying for a loan to buy two piglets for breeding as well as pig food, to start a new business. With the rest of the loan, he is going to pay his children’s school fees.
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