Mrs. Hem Bora's Village Bank Group
Mrs. Hem B., the village bank president, is a farmer. She now faces an obstacle because her field is infertile. To deal with this problem, Mrs. Hem B. has decided to ask for a loan to purchase fertilizer to improve her crops.
Her husband, Mr. Nu B., is a tuk-tuk driver who does not earn enough income to support his family. Mrs. Hem B. is 42 years old and the mother of seV. children, three of whom are employed I. a garment factory; other three attend the local school. The youngest one, age 4, is too young to work or study
Mr. Nem Nat did not come to the loan meeting, so his wife, who attended the meeting, appears I. the photograph. Mr. Thon Savuth, who is the group guarantor, is shown I. the picture, too.
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. Members with end-of-term loans 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 maI. 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 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.
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