Mr. Kov Village Bank Group
Mr. Kov is the village bank president who has been selected by the other members. He was born in 1964. He is a farmer who owns a 1.5-hectare plot of land where he can grow rice. He sells some part of the rice and rest of the rice he keeps to support his family.
His wife is a silk weaver. Through these activities, this couple supports four children, one of whom is a silk weaver while the others are studying in the local public school.
In the rice field, Mr. Kov faces an obstacle because his field is infertile soil. So to improve his crop, Mr. Kov is applying for a loan to buy fertilizer, gasoline and pesticide.
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