Mrs. Lao P. is a farmer who owns a plot of land which she uses to grow rice and vegetable. She is also earns her living by selling fish. In order to support her this business, she would like to ask for a loan to purchase more fish to enlarge her business currently. Her husband, Mr. Choem Vorn, was born in 1954, works as house builder who is able to earns a small income to support his family.
This couple has five children: one is fish seller, one is worker in a Korean company, and the other three are students.
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