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Mrs. Chorng Tul Village Bank Group
In this Group: Chorng, Hat, Sophorn, Nann, Sim, Sovanny, Lorn, Thea, Sophean, Thun, Rum
The village bank, consisting of eleven members, is located in Kouk Sdau village in Kampong Chhnang province and they plan to use their loan for different purposes. Mrs. Chorng T. is the village bank president selected by the members. She sells Banh Chhaev which is made from sticky rice with bean and pork. Since this business is going well, she wants to expand it so Mrs. Chorng T. decided to ask for a loan to buy sticky rice to make more cakes. She is a 43-year-old widow with four children. One is employed in a garment factory, one is a fisher, another helps her work and the other is attending the local school.

All the members in this group loan are end-of-term loans so they are not required to pay any principal on the loan until the very end of the loans 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. Most clients start to make their payments many months before the end of the loan term. Almost all of AMK’s client make their payments on time.

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
  • 281
    View loans »
    Cambodia Loans Fundraising
  • $37,502,950
    Funds lent in using Kiva
  • 4,148.1
    Cambodia Riels (KHR) = $1 USD

Success!! The loan was 100% repaid

A portion of Mrs. Chorng Tul Village Bank Group's $650 loan helped a member to ask for a loan to buy sticky rice to make more cakes.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Dec 18, 2008
Listed
Jan 18, 2009
Currency Exchange Loss:
Covered
Ended:
Jan 15, 2010