She and her husband, Mr. Chheoun Sovann, are farmers who own a plot of land where they grow corn, rice, and various vegetables. They grow and sell these crops to support their family. At present, they do not have sufficient funds to prepare the farm to grow their crops. This is why Mrs. Soeun C. is requesting a loan. With the loan, she will buy corn seeds and fertilizers and will be able to pay for hired laborers to plow her farm in preparation for growing rice.
This couple has five children, four of whom are students who also help support their parents' farming business. The youngest is five years old and not yet in school.
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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