Mrs. Kosal Penh Village Bank Group
Mrs. Kosal P. is the village bank president who has been selected by all the members. She is a mother of 4 children, three of whom are seamstresses in a garment factory, and the other attends the local public school
She is a farmer who owns a plot of land to cultivate rice that she sells to support her family’s living. Her husband, Mr. Loch Khut, is a construction worker and aside from this he is also a fisherM.. Although they try to work hard with their careers, they earn little income and do not have enough to buy supplies for fishing.
Thus Mrs. Kosal P. decided to apply for a loan to buy fish nets and a boat to find fish.
About AMKAngkor 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.
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Success!! The loan was 100% repaid