Mrs. Sim Sarin's Village Bank Group
To illustrate, Mrs. Sim S. is the village bank president, though she also sells fruit at the local market. Since her business has been doing well, she wants to expand it, so she decided to ask for a loan to buy different kinds of fruit to meet her customers' demands. Mrs. Sim S.'s husband, Mr. Chea Sun, is a construction worker who makes approximately $3.50 per day to support their family. Mrs. Sim S. is 45 years old, and she is the mother of five children. One of her children is employed at a garment factory and earns approximately $65 per month, three of her children attend school, and her youngest child (a 2-year-old) is too young to work or study.
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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