There are 14 members in the Dei Edth Kaoh Phos IV Village Bank. Mr. Chhuon R. is the Village Bank President. He makes white wine and breeds pigs in Dei Edth Kaoh Phos Village in Kandal Province. He has asked for a loan to buy pig food. He is 55 and the father of five children; one of them is a pig breeder while the other four help their father make white wine. His wife, Sareourn Keot, assists her husband’s business. The family incoM. usually is spent on food, wedding ceremonies and funerals. Last year, Mr. Chhuon R.’s pig faced disease and died.
This is a group loan. The loan funds will be distributed among the group members, each of whom will invest in her own business. The members mutually guarantee one another's loans. If one member does not repay, the other members are responsible.
Angkor 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.