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Mrs. Sokhom Iv Village Bank Group
In this Group: Sokhom, Vanna, Sron, Sros, Thol, Pha, Un, Thary, Koemnea, Mom, Yon, Tai, Phorn, Lorn, Menh, Phall, Savy, Sopheap, Neng, Savorn, Savouem
This village bank loan group consists of twenty-one people who live in Peam Prachum Village in Kandal Province. Mrs. Sokhom I. was selected by the members to be the village bank president. She is a farmer. She owns a piece of land on which she grows rice and vegetables. She has a problem because she does not have rice seed to sow on the field. Thus, she decided to ask for a loan to buy rice seed. She will use the rest of loan to buy a sewing machine for her child. Mrs. Sokhom I. is a 48-year-old widow. She has two children who are employed in a garment factory.

Six members in this group loans have taken end-of-term (EoT) loans and the rest have monthly-payment loans. Borrowers with EoT loans are not required to pay any principal on the loan until the very end of the loan term. End-of-term loans are AMK’s main product because they are 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.

Additional Information

About AMK

Angkor 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.

About Cambodia

  • $2,600
    Average annual income
  • 85
    View loans »
    Cambodia Loans Fundraising
  • $35,066,900
    Funds lent in using Kiva
  • 4,151.0
    Cambodia Riels (KHR) = $1 USD

Success!! The loan was 100% repaid

A portion of Mrs. Sokhom Iv Village Bank Group's $3,100 loan helped a member to buy rice seed and a sewing machine for her child.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 3, 2009
Listed
Oct 1, 2009
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2010