Mr. Vantha Meas Village Bank Group
Mr. VanT. M. is a village bank president who has been selected by the members. He and his wife are farmers. It now is the time for harvesting; unfortunately, they do not have enough money to hire laborers to harvest the rice padD., so Mr. VanT. M. decided to ask for a loan to hire laborers for his purpose. He is 63 years old and the father of five children, one of whom is employed in a garment factoR. while the other two are construction workers. The remaining three are attending the local school.
This is a village bank loan consisting of mainly end-of-term loans. Six members have end-of-term loans and the rest have monthly payment loans. They are not required to pay any principal on the loan until the veR. 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.
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
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Success!! The loan was 100% repaid