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Channy Sokh Group
In this Group: Channy, Leng, Saei, Chanphall, Vat, Sokh Heng
Vat P., Leng K., Chanphall P., Channy S., S. Heng A. and Saei C. all live in Preaek Thom Village in Kandal Province, Cambodia. The six members of this lending group are part of AMK’s Loan Workout Program. All clients have outstanding loans that are delinquent and they are currently unable to pay back the full amount of their existing loan.

Their business ventures, which they funded using their existing loan, have failed, putting them in a very unfortunate position. In addition, less work at garment factories and sickness in their families have drastically reduced other sources of income for each family. All six clients will use their loan to start a new business making T-shirts.

As part of AMK’s workout program, each client is given a workout loan that will be used to purchase sewing machines, an electricity line and additional sewing equipment. AMK has hired a tailor to train the group to make T-shirts. The material will be provided by AMK to ensure that quality material is used and so that the clients do not have to purchase it themselves.

AMK has partnered with Ahkun.org to sell their T-shirts online. Fifty percent of all profits will go to this group and the other borrowers in their village who are unable to repay their loan.

This program is in contrast to the traditional ways that microfinance institutions deal with delinquent clients:
• By rescheduling the loan and pushing off the problem to another day
• Repossessing items that the clients own, including their house or land.

Because of AMK’s strong social mission, AMK has created this program to provide an alternative solution to one of microfinance’s dark sides. We hope that Kiva Lenders will support us in this initiative.

All six clients of this group have had previous loans on Kiva:
http://www.kiva.org/lend/58345
http://www.kiva.org/lend/58347
http://www.kiva.org/lend/62359
http://www.kiva.org/lend/63814
http://www.kiva.org/lend/71201
http://www.kiva.org/lend/51660

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
  • 65
    View loans »
    Cambodia Loans Fundraising
  • $35,066,900
    Funds lent in using Kiva
  • 4,243.6
    Cambodia Riels (KHR) = $1 USD

Success!! The loan was 100% repaid

A portion of Channy Sokh Group's $575 loan helped a member to start a new business making T-shirts.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Mar 11, 2010
Listed
May 1, 2010
Currency Exchange Loss:
Possible
Ended:
Jul 15, 2010