Mrs. Suo Chan Thea's Village Bank Group


Status: Paying Back

$1,700.00   Loan Amount
91% repaid

About the Group

Group Name: Mrs. Suo Chan Thea's Village Bank Group
Group Members: Suo Chan Thea
Ruos Lorn
Am Chay Den
Sok Thoeurn
Men Phea
Hem Sarom
Khoem Solly
Suon Mon
Dol Sotha Vy
Sou Chanthorn
Trey Khoemhieng
Yorng Brouk
Doung Then
Pory Larm
Bun Suo
Location: Chamka Tamao Village, Cambodia
Activity: Motorcycle Transport

About the Loan

Loan Amount: $1,700.00
Loan Use: To buy a motorbike for her children to travel to work.
Repayment Term: 14 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Oct 27, 2008
Date Disbursed: Nov 11, 2008
Date Funded:Oct 28, 2008

About the Country

Country:Cambodia
Avg Annual Income:$2,600.00
Currency:Cambodia Riels (KHR)
Exchange Rate:4,146.2500 KHR = 1 USD



The village bank loan group of Chamka Tamao Village in Kampong Chhnang Province consists of fifteen people. Each plans to use the loan for different purposes. Mrs. Suo Chan Thea is a housewife who cooks a delicious food for her household. She is a 45-year-old widow with three children, two of whom are employed in a garment factory while the other is employed in a small position in a hotel. Since her children's workplace is too far from house, they spend a lot of money on transportation. Thus, Mrs. Suo Chan is requesting a loan to buy a motorbike for her children to travel to work. Mrs. Sok Thoeurn's husband is presented in the picture.



This is a village bank loan consisting of mainly end-of-term loans. Six members have end-of-term loans and the rest have monthly payment loans. They are not required to pay any principal on the loan until the very end of the loan term. End-of-term (EoT) loans are AMK’s main product because it is the most beneficial to Cambodia’s poor. It allows them to repay portions of the principal whenever they are financially able to. Most clients start to make payments many months before the end of the loan term. Almost all of AMK’s clients make their payments on time. AMK has a delinquency rate of only 0.09% and AMK has a default rate of 0% on Kiva.



About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more


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Lenders to this group

Ryan
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Laurent D
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Felix
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Sharon
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Rick and Dana
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SIA @ MTSU
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Tom
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Michael
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eskil & wendy
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Angela
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Rishikesh
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richard
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Sergio
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scott
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Alessandra e Lorenzo
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Anonymous
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Larry
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Pavlos
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Sam
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Maxi, Piergio & Ernie
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Mark
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Mats
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Brett Dobbs
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Bianca
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David
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moreno
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James
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Paul
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Iris
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Per
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Carol
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Cheryl
London, England
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Tracey
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Anonymous
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Lynn
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jonathan
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D & K
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Journal entries for Mrs. Suo Chan Thea's Village Bank Group


Loan has been disbursed
 
Entrepreneur: Mrs. Suo Chan Thea's Village Bank Group
Location: Chamka Tamao Village, Cambodia

Thank you for your loan. It has been disbursed to the Mrs. Suo Chan Thea's Village Bank group, consisting of Suo Chan Thea, Ruos Lorn, Am Chay Den, Sok Thoeurn, Men Phea, Hem Sarom, Khoem Solly, Suon Mon, Dol Sotha Vy, Sou Chanthorn, Trey Khoemhieng, Yorng Brouk, Doung Then, Pory Larm, Bun Suo by AMK in Cambodia. We are excited to watch this business grow. Over the next 12 months, AMK will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Chamka Tamao Village, Cambodia
Nov 12, 2008
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Update on Loan to Suo Chan Thea
 
Entrepreneur: Mrs. Suo Chan Thea's Village Bank Group
Location: Chamka Tamao Village, Cambodia

Suo Chan Thea (leader of the Suo Chan Thea Village Bank) and four other members have paid back their portion of the group loan early! We had a chance to visit Mrs. Suo Chan Thea in the Chamka Tamao Village of Cambodia’s Kompong Chhnang Province.

Mrs. Suo Chan Thea is a homemaker who occasionally helps her husband on the rice farm. She used her loan from AMK to buy her son a bicycle. She told us that they are able to save close to $1USD a day because her son no longer needs to pay for transportation to work. She plans to start utilizing this savings by starting a personal savings account for her family. Additionally, she used the remaining money from the loan to build a new toilet for her home. She is happy with the improvement in her family’s living condition and hopes to take another personal loan out to fix the very basic kitchen in her house.

Two of her children work in a hotel while the one using the new bicycle works in a garment factory.

Suo Chan Thea and her family thank the Kiva lenders for funding their loan through AMK!

Be sure to read more about Kiva's excellent partner MFI in Cambodia, AMK (http://www.kiva.org/about/aboutPartner?id=109).

And, make another loan to one of AMK's currently fundraising clients! (http://www.kiva.org/app.php?page=businesses&partner_id=109&status=fundRaising&sortBy=New+to+Old)


Posted by James Han from Chamka Tamao Village, Cambodia
Oct 19, 2009
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Kiva Help Repayment Schedule for Mrs. Suo Chan Thea's Village Bank Group

  Expected Repayments Actual Repayments Comments
February 2009 $141.67 $141.67 Repayment Received
March 2009 $141.67 $141.67 Repayment Received
April 2009 $141.67 $141.67 Repayment Received
May 2009 $141.67 $141.67 Repayment Received
June 2009 $141.67 $141.66 Repayment Received
July 2009 $141.67 $141.67 Repayment Received
August 2009 $141.67 $141.67 Repayment Received
September 2009 $141.67 $141.68 Repayment Received
October 2009 $141.67 $141.67 Repayment Received
November 2009 $141.67 $141.67 Repayment Received
December 2009 $141.67 $141.67 Repayment Received
January 2010 $141.63 Available Jan 1