Mrs. Seakheng Chhin Village Bank Group


Status: Paying Back - Delinquent

$2,425.00   Loan Amount
69% repaid

About the Group

Group Name: Mrs. Seakheng Chhin Village Bank Group
Group Members: Seakheng Chhin
Vorn Srun
Mol Em
Yeth Pheng
Kha Phurng
Phall Kok
Yem Soem
Lorn Yeng
Koeurn Kung
Koury Kung
Sum Ing
Loch Ing
Lorn Ing
Sochea Ing
Ell Yory
Pheap Tonh
Sreimom Hok
Phat Chheang
Rom Yeng
Srey Sros Thon
Location: Kampong Pou Village, Cambodia
Activity: Farming

About the Loan

Loan Amount: $2,425.00
Loan Use: to cultivate rice in the dry season
Repayment Term: 13 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Jan 17, 2009
Date Disbursed: Jan 6, 2009
Date Funded:Jan 18, 2009

About the Country

Country:Cambodia
Avg Annual Income:$2,600.00
Currency:Cambodia Riels (KHR)
Exchange Rate:4,132.8000 KHR = 1 USD



Twenty people who all live in Kampong Pou village in Kandal province form this village bank. They will use the loan for a variety of purposes. Mrs. Seakheng Chhin is the village bank president. She and her husband, Mr. Phal Phat, are farmers who own a small piece of land where they cultivate rice. They now face an obstacle because they do not have enough money to grow rice during the dry season. Thus, Mrs. Seakheng Chhin decided to request a loan to cultivate rice. She hopes to increase their income and improve their living conditions with this loan. She is 42 years old and the mother of four children, one of whom is employed in a garment factory while another is a fisherman and the others are enrolled in the local school.



Two members in this group loans have end-of-term loans and the rest have monthly payment loans. The EoT borrowers 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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Journal entries for Mrs. Seakheng Chhin Village Bank Group


Loan has been disbursed
 
Entrepreneur: Mrs. Seakheng Chhin Village Bank Group
Location: Kampong Pou Village, Cambodia

Thank you for your loan. It has been disbursed to the Seakheng Chhin group, consisting of Seakheng Chhin, Vorn Srun, Mol Em, Yeth Pheng, Kha Phurng, Phall Kok, Yem Soem, Lorn Yeng, Koeurn Kung, Koury Kung, Sum Ing, Loch Ing, Lorn Ing, Sochea Ing, Ell Yory, Pheap Tonh, Sreimom Hok, Phat Chheang, Rom Yeng, Srey Sros Thon by AMK in Cambodia. We are excited to watch this business grow. Over the 11 months of this loan, AMK will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Kampong Pou Village, Cambodia
Jan 19, 2009
Comments (2)

Kiva Help Repayment Schedule for Mrs. Seakheng Chhin Village Bank Group

  Expected Repayments Actual Repayments Comments
March 2009 $202.08 $145.50 Repayment Received
April 2009 $202.08 $173.92 Repayment Received
May 2009 $202.08 $173.92 Repayment Received
June 2009 $202.08 $173.92 Repayment Received
July 2009 $202.08 $173.90 Repayment Received
August 2009 $202.08 $173.95 Repayment Received
September 2009 $202.08 $173.92 Repayment Received
October 2009 $202.08 $156.17 Repayment Received
November 2009 $202.08 $125.37 Delinquent
December 2009 $202.08 $210.25  
January 2010 $202.08 Available Jan 1  
February 2010 $202.12 Available Feb 1