Mrs. Lai Sroeun Chaem leads a group of four borrowers all of whom live in Phteah Khpos Village in Kampong Cham Province. She has a half-hectar plot of land on which to cultivate rice and earn a living. But she is not able to grow rice now because she does not have enough seeds to plant. To solve with this problem, she is applying for a loan to buy seeds and fertilizer to make her field more productive. Her husband, Mr. Thuch Sorn, works as a security guard. Mrs. Lai Sroeun Chaem is 34 years old and the mother of three children, two of whom attend the local school while the youngest, who is three years old, stays at home.
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.