Mrs. Sokea Suon Village Bank Group


Status: Paying Back

$1,650.00   Loan Amount
54% repaid

About the Group

Group Name: Mrs. Sokea Suon Village Bank Group
Group Members: Sokea Suon
Sophanna Hak
Kheim Kret
Tok Chan
Mom Chan
Pech Sim
Sam On Aor
Yoeun Chhoeung
Phal Noeun
Nget Uon
Leng Min
Meas Sim
Kung Chhaem
Im Sim
Location: Boeng Leach Village, Cambodia
Activity: Cereals

About the Loan

Loan Amount: $1,650.00
Loan Use: Purchasing more rice to resell
Repayment Term: 14 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Apr 1, 2009
Date Disbursed: Feb 18, 2009
Date Funded:Apr 19, 2009

About the Country

Country:Cambodia
Avg Annual Income:$2,600.00
Currency:Cambodia Riels (KHR)
Exchange Rate:4,125.2000 KHR = 1 USD



Fourteen people living in Boeng Leach village in Takeo province comprise this village bank loan, and they will use the loan for various purposes. Mrs. Sokea Suon is a 43-year-old village bank president. She is a rice middle woman. Since her business is doing well, she wants to expand it by purchasing more rice to resell to earn more income. Her husband, Mr. Chan Lot, is a hard working man. Mrs. Sokea Suon has five children, one of whom is a dessert seller, three are attending the local school, and the remaining is too young to work or study.


Five members in this group 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. 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. Sokea Suon Village Bank Group


Loan has been disbursed
 
Entrepreneur: Mrs. Sokea Suon Village Bank Group
Location: Boeng Leach Village, Cambodia

Thank you for your loan. It has been disbursed to Mrs. Sokea Suon Village Bank Group, consisting of Sokea Suon, Sophanna Hak, Kheim Kret, Tok Chan, Mom Chan, Pech Sim, Sam On Aor, Yoeun Chhoeung, Phal Noeun, Nget Uon, Leng Min, Meas Sim, Kung Chhaem, Im Sim by AMK in Cambodia. We are excited to watch this business grow. Over the 12 months of this loan, AMK will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Boeng Leach Village, Cambodia
Apr 20, 2009
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Kiva Help Repayment Schedule for Mrs. Sokea Suon Village Bank Group

  Expected Repayments Actual Repayments Comments
June 2009 $315.44 $214.34 Repayment Received
July 2009 $97.06 $107.18 Repayment Received
August 2009 $97.06 $107.18 Repayment Received
September 2009 $97.06 $192.10 Repayment Received
October 2009 $97.06 $95.04 Repayment Received
November 2009 $97.06 $94.88 Repayment Received
December 2009 $97.06 $95.21 Repayment Received
January 2010 $97.06 Available Jan 1  
February 2010 $97.06 Available Feb 1  
March 2010 $97.06 Available Mar 1  
April 2010 $461.02 Available Apr 1