Thirteen people living in Knong Preaek village in Kandal province comprise this village bank, and they will use the loan for various purposes. Mr. K. C., the 55-year-old village bank president, and his wife, Mrs. Chhuon Hen, are vegetable middlemen. Since their businesses are going well, they want to expand them. Thus, Mr. K. C. decided to request a loan to purchase more vegetables to re-sell. He hopes to increase their income and improve their living conditions with this loan. He is the father of four children who are employed in a garment factoR..
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.