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Mrs. Lach Yim's Fishing Business Group
In this Group: Lach, Phouk, Oung, Uch, Bai, Keb, Yeab, Sak, Phorn, Koy, Khoeun, Khon, Pai, Doem, Hor
The village bank, which consists of fifteen members, is located in Kuy Village in Kampong Chhnang Province. Mrs. Lach Y. is the village bank president; she has been selected by the members. She has 2-hectar where she can cultivate rice. Her husband, Mr. Ke Khon, is a fisherman. In order to improve this business, his wife decided to ask for a loan to buy more fishnets; she will use the rest of the loan to purchase a new boat to replace the old one. She hopes that she can increase her income and improve her living conditions with this new loan. Mrs. Lach Y. is 55 years old and the mother of three children, one of whom immigrated to Thailand to work and another of whom is a farmer. The youngest one is still attending the local school. Mrs. Hor I. does not come to take a loan but her husband is, so he is presented in the picture instead.

This is a village bank loan consisting mainly of end-of-term loans. Thirteen members have end-of-term loans and the rest have monthly payment loans. These 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 do so. 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
  • 129
    View loans »
    Cambodia Loans Fundraising
  • $36,604,675
    Funds lent in using Kiva
  • 4,194.0
    Cambodia Riels (KHR) = $1 USD

Success!! The loan was 100% repaid

A portion of Mrs. Lach Yim's Fishing Business Group's $1,000 loan helped a member purchasing new fishnets and a new boat.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Nov 8, 2008
Listed
Oct 24, 2008
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2009