This village bank, which consists of eleven members, is located in Svay Chrum Thmey village in Kampong Chhnang Province. They plan to use the loan for various purposes. Mrs. Channy K. is the village bank president, selected by the members. She is a bean seller in the local market. Since this business is going well, she wants to expand it. Thus, she decided to ask for a loan to buy more beans to sell. She hopes to increase her income and improve her living conditions with this loan. Her husband, Mr. Sin Phalla, is a farmer who owns a plot of land to cultivate rice. Mrs. Channy K. has three children, two of whom are attending the local school while the youngest one is too young to work or study. All the members of the bank are presented 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.