Siphat Yang Village Bank Group

Thank you for your loan. It has been disbursed to the Siphat Yang Village Bank group, consisting of Siphat Yang, Navy Nong, Sokleang Nhim, Savean Tong, Ratana Mon, Sophen Phat, Sopheurn Phan, Soknong Gnuon, Sothy Lon, Ry Heng, Sokun Phan, Phal Thuok, Kun Sam, Simorn Ur, Srey Chhim, Bo Mao, Muny Tep, Sokha Ouk, Sophos Vuth, Savoeurn Kong, Sokhoeurn Ouk, Sokhom Sot, Ny Nu, Sokha Meach, Rina Gnuon, Channy Chhim, Oun Khat, Sim Phin, Chhuneary Men, Sareth Meas by AMK (Angkor Mikroheranhvatho Kampuchea) in Cambodia. We are excited to watch this business grow. Over the next 12 months, AMK (Angkor Mikroheranhvatho Kampuchea) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Well now is your chance!!!

My name is Sanjaya Punyasena and I am the current Kiva fellow for AMK. I will be visiting the Siphat Yang Village bank this Thursday. If you want me to ask the members of the village bank any questions send me an email with your question: sanjaya.punyasena AT fellows.kiva.org

This is the first time I'm trying this, so I might run into some problems. I want to apologize in advance if I am unable to ask your question.

If you could send me your questions before October 15th, that would be great!

Take care,
Sanjaya

P.S. If you have not voted for Kiva in the American Express Members Project you should do so now!! With 15 hours left, Kiva needs 500 votes to reach second place!!

Siphat Yang has changed her original business plan from selling fruits and vegetables. She now sells clothes for a living and her business is doing well. Siphat has fully paid off her portion of the group loan, 600,000 KHR ($145), and has decided to take out an individual loan for 2,000,000 KHR ($484). According to Siphat, her living conditions have improved, but she doesn’t have enough money to save. Any extra money is reinvested back into her growing clothing business. Her son is still in school and is in the third grade.

Here are the answers to the questions asked by Kiva lenders:

Mary Larkin asked:

“Where do the business people get the goods in the first place? Are the goods sent in by mail? Do the business people have to travel to a larger city to buy the goods?”

Siphat Yang gets her goods from Phnom Penh, the capital of Cambodia, which is about a 45 minute drive on moto from her village. She buys her clothes from Olympic and Chbar Ampil markets.

Yusuke from Japan asked:

“How much does their per day income increase because of loans so far? and why?”

Before Siphat took out a loan she was making about $1.75 a day. Now she makes $2-$2.50. She said that the loan allowed her to buy more clothes to sell. It also allowed her to sells her clothes to factory workers on credit. The workers would then pay her back when they receive their monthly pay.

Yusuke also asked:

“How do they cooperate with each other in the village after getting the loan?”

According to Siphat, whenever a group member cannot make a payment, the other group members must cover the difference. The group member who wasn’t able to make a payment is expected to pay back the other group members when he/she can.

To find out more about my visit into the field check out the Kiva Fellows Blog.

In the picture below, Ms. Siphat Yang and her neighbor check out the Kiva business descriptions of the two loans.