Mrs. Serei Chheng Village Bank Group
Mrs. Serei C. is the village bank president. She is a farmer who owns two hectares to cultivate rice. Her husband, Mr. Roeung Samnang, owns a threshing machine which brings in income. Unfortunately, his threshing machine now needs to be repaired so his wife, Mrs. Serei C., decided to ask for a loan to fix it and re-start the business. Mrs. Serei C. is 46 years old and the mother of five children two of whom are dump truck drivers while the remaining three are attending the local school.
This is a village bank loan consisting of some end-of-term loans. Six members have end-of-term loans and the rest have monthly payment loans. Those receiving 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 main product because it is the most beneficial to Cambodia's poor. It allows thE. 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