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Mrs. Loeng Shinoen's Village Bank Group
In this Group: Loeng, Nuon, Man, Vong, Loa, Thoang, Loeng, Chhum, Chea
Nine women form the Village Bank in BoE. Krum Kraom Village in Kandal Province. Mrs. LoE. S. is the village bank president. She is a farmer who cultivates rice and vegetables. Her husband, Mr. Kao Sareth, is a labourer who digs the small river and moves soil to fill another place for a salary. Aside from this business, he is a fisherman.



With these two businesses, Mr. Kao Sareth can make around US$ 4.50 to support his household. In his fishing business, Mr. Kao Sareth can catch few fish because he does not have enough fishing equipment so his wife, Mrs. LoE. S., decided to ask for a loan to buy fish nets in order to improve her husband's business. Mrs. LoE. S. has three children, one of whom is attending school while the others are still too young to work or study because they are one and four.



This is a village bank loan consisting of mainly end-of-term loans. Eight members have end-of-term loans and the rest have monthly payment loans. Group members 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 to. 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
  • 166
    View loans »
    Cambodia Loans Fundraising
  • $35,951,550
    Funds lent in using Kiva
  • 4,153.3
    Cambodia Riels (KHR) = $1 USD

Success!! The loan was 100% repaid

A portion of Mrs. Loeng Shinoen's Village Bank Group's $725 loan helped a member to buy fish nets in order to improve her husband's business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Sep 13, 2008
Listed
Aug 30, 2008
Currency Exchange Loss:
Covered
Ended:
Sep 17, 2009