This group loan is being requested by fourteen people who live in Kampong Svay Village in Kandal Province. Mr. Sovan M. has been chosen group leader by the members. He is a motorbike taxi driver who is not able to earn enough income to support his family. This is the case even though he also farms a small piece of land on which he grows rice. On this farm, the main problem he faces is poor quality land which needs fertilizer. That is why Mr. Sovan M. is asking for a loan to buy fertilizer and make his land more productive. His wife, Mrs. Eng Rotha, is a housewife who takes good care of their family and is an excellent cook. Mr. Sovan M. and his wife have six children, one of whom is employed in a garment factory. Three attend a local school while the remaining two are too young to work or study.
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.