This group which consists of four people is located in Sontouch village in Kampong Chhnang province. Mrs. Rithy M. is the group leader. She is a rice middleman who buys rice to keep in stock and then re-sell later at a better price. This business is going well, so she wants to expand it and has asked for a loan to buy 1,000 kilograms of rice to keep in stock. Her husband, Mr. Chhoem Sarun, is a policeman who makes a small salary to support the family. Mrs. Rithy M. is 41 years old and the mother of four children, two of whom are working as constructors while the others are attending the local school.
Mrs. Rithy M. will share this loan with the members of her group.
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.