The village bank group, which consists of twelve people, is located in Preaek Pang village in Kandal province. Mrs. Kunthea H. is the village bank president who has been selected by the members. She is a farmer who owns a small piece of land to cultivate rice to earn a living. In this plantation, she now faces a small problem because she does not have enough money to buy rice seeds to cultivate. She decided to ask for a loan to buy seeds for her plantation. She would use the rest of the loan to buy fertilizers to support the field to make her crop more productive. Her husband, Mr. Seng Thuch, is a recycling collector who gathers wastes such as empty bottles, cans, plastics and so on to re-sell in a recycling factory. Mrs. Kunthea H. is 37 years old and the mother of three children who are all attending the local school. Mr. Sophany L. did not attend the loan meeting but her husband did, so she is presented 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.