Mrs. Saruon R. is a widow with two children, one of whom is a construction worker while the other is attending the local school. She is a popular singer who has been hired to perform in wedding ceremonies, parties, and so on. Aside from this career, she is a rice middleman. Since her business is doing well, she wants to expand it by purchasing more rice to sell to earn more profits. The loan will also support the eleven members of the village bank, who plan to use the loan for different purposes. Mrs. Saruon R. has been selected by the members to be village bank president.
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.