The Village Bank which consists of twenty-one people is located in Kandal Kraom Village in Kandal Province. Mrs. Men L. is the Village Bank President. Her husband, Mr. S. Sareth, is employed in a small position in Cambodia Public Bank where he makes $150 per month. But, with this income he cannot support his family well because the inflation in Cambodia is too high and he cannot save enough money.
Mrs. Men L. is 35 years old and the mother of two children who are too young to work or study. Since Mrs. Men L.'s house does not have a gate and some of her vegetables are damaged by cattle. She needs a loan to buy wood to make a fence in order to protect her garden. Two men among seven come to take a loan instead of their wives. Mrs. Em Sok K. and Mrs. Son K. are shown in the picture.
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.