Mrs. Touch Mom Village Bank Group
Mrs. Touch M. is the village bank president, and she was selected to this position by her fellow group members. She is a farmer who works on a plot of land where she cultivates rice. Since her plantation has been doing well, she wants to expand it by purchasing another piece of land on which to cultivate rice. Additionally, she wants to use any leftover loan proceeds to buy fertilizer in order to grow additional crops. Her husband, Mr. E. Set, is a construction worker. Mrs. Touch M. is 55 years old, and she is the mother of three children. One of her children is employed in a garment factory, while the others are attending the local school.
All of the members of the village bank are shown in the picture, though some of thE. are not visible. Three group members are seeking so-called "end-of-term" (EoT) loans, whereas the rest of the members have monthly payment loans. Borrowers of these EoT loans are not required to pay any principal on the loan until the very end of the loan term. Interestingly, EoT loans are AMK’s main loan product because they are the most beneficial to Cambodia’s poor; specifically, they allow borrowers to repay portions of the loan principal whenever they are financially able to do so. In any event, most such borrowers start to make principal payments many months before the end of the loan term. Almost all of AMK’s clients make their payments on time. Indeed, AMK has a delinquency rate of only 0.09%, and AMK has a default rate of 0% on Kiva loans.
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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Success!! The loan was 100% repaid