Eighteen people living in Preaek Doung village in Kandal province comprise this village bank, and they will use the loan for various purposes. Mrs. Phen Y. is the 46-year-old village bank president. She is a farmer who owns a small piece of land wheR. she cultivates rice. Aside from this plantation, she is a vegetable seller in the local market. Since her business is doing well, she wants to expand it by purchasing moR. vegetables to R.-sell to earn moR. income to support her family. Mrs. Phen Y. is a widow with two children, one of whom is attending the local school while the other is too young to work or study.
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.