Mrs. Chhoeng Koem Village Bank Group
Twenty members in Slab Ta Aon Village in Kandal Province made up a Village Bank, and Mrs. Chhoeng K. is the village bank president who has been selected by the members of this group. She is a fruit seller in the local market. Since her business is going well, Mrs. Chhoeng K. decided to ask for a loan to buy more fruit from Phnom Penh to resell in the local market. Her husband, Mr. Chhoeng K., is a soldier, but he has now retired and he receives a small salary from his position to support the family. Nowadays, Mr. Chhoeng K. helps his wife with her business in order to improve their living conditions together.
Mrs. Chhoeng K. is a 50-year-old married mother with five children, two of whom are employed in a garment factory, and they can make $55 each. Another is an immigrant working abroad, while the other two are enrolled in high school.
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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