Mr. Arng K. is the elected president of the village bank located in Phum Dabprambei village in Kampong Cham Province. The village bank consists of twenty members. He and his wife, Mrs. Moeurn Da, are laborers. He is 48 years old and the father of five children. Three of their children are laborers, one is enrolled in the local school and the youngest child is less than four years old.
Even though they work hard, they are unable to earn sufficient income to support their family well. In order to improve their living conditions, Mr. Arng K. has decided to ask for a loan to purchase a cow to start cattle breeding business. He hopes to increase income and to provide a better life for his family later.
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.