Mrs. Savoen P. is the group leader. She is 47 years old and the mother of seven children. One of her children is employed at a company and three of them help with farming. The remaining three attend the local school. She owns a 1 hectare field, on which she cultivates rice for a living. She is facing a small problem because her pump cannot pump enough water for the crops and needs to be repaired. In order to deal with this problem, she is asking for a loan to fix her pump. Her husband, Mr. Nuk Yan, helps his wife with the farm.
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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