Mrs. S. On K. is the Village Bank president. The bank consists of thirty-one members in Preak Ta Ong village in the Kandal province. Mrs. S. On K. was B. in 1946, and she has two children, one of whom is 25 years old and is working in a fish sauce factory. The youngest one is 22 years old and is attending high school. Mrs. S. On K. is a mat maker. She now faces an obstacle because she does not have enough money to purchase raw material to make her mats. Thus, Mrs. S. On K. decided to ask for a loan to buy raw material for this purpose. Her husband, Mr. Dol Yong, is a farmer and cow breeder. He raises two cows in order to resell and he also uses the cows to work on the farming. Additionally, he helps his wife with business when he has free time. These family members are working very hard in order to improve their living conditions. Mrs. S. On K. hopes to increase her income with this new loan.
The two men who are shown in the picture came to take a loan instead of their wives because their wives are busy with work.
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.