The village bank loan, which consists of seventeen people, is located in Tep Archun village in Kandal province, and all the members will use the loan for different purposes. Mrs. Mom M. is the village bank president. She is a vegetable seller in the local market. Aside from this business, she is a farmer who cultivates rice on a 1-hectar field. In this plantation, she now faces a small problem because she does not have enough rice seeds to cultivate, so she decided to ask for a loan to buy rice seeds to deal with her problem. Her husband, Mr. Phin Meng, is a motorbike taxi driver. Mrs. Mom M. is 36 years old and the mother of two children who are all attendI. the local school. Mrs. Koe Sovannary and Mrs. C. Sotheary who are group guarantors are also shown in the picture with the village bank loan members.
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.