This village bank loan, which consists of twenty people, is located in Preaek Pang village in Kandal Province. The members will use the loan which they obtained for different purposes. Mrs. Savoeung S. is a village bank president who has been selected by the members. She and her husband, Mr. Keit Chamroeun, are grocers in the local village. Aside from this business, Mr. Keit Chamroeun is a farmer who cultivates rice on a piece of land to earn a living. In this plantation, he faces an obstacle because he does not have enough money to buy rice seeds to cultivate, so Mrs. Savoeung S. decided to ask for a loan to buy rice seeds to cultivate rice. She will use the rest of the loan to buy fuel to support a pump to make her crop more productive. She is 43 years old and the mother of four children, one of whom is employed in a garment factory; the remaining three are attending the local school. Mrs. Savoeung S. did not come to take the loan, but her husband did so he is shown in the picture instead.
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.