Mrs. Ratha Chuor Village Bank Loan Group
The members selected Mrs. Ratha C. for the village bank president. She has 4 children, one of whom is employed in a garment factory while the others attend the local school. Mrs. Ratha C. owns a hectar field to cultivate rice to earn her living. Her husband, Mr. Ngin Sinat, is a blacksmith in the local village.
Although Mrs. Ratha C. and her husband try to work hard, they still have little income to improve their living condition. Also, Mrs. Ratha C.'s husband wants to start a fishing business so she decided to ask for a loan to buy fishnets for her husband.
Fifteen members in this loan are end-of-term loans so they are not required to pay any principal on the loan until the end of the loan's term. End-of-term (EoT) loans are AMK's main product because they are most beneficial for Cambodia's poor, who can repay portions of the principal whenever they are financially able to. Most clients start to make their 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 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