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Mr. Sobon Bo Village Bank Group
In this Group: Sobon, Sim, Seak Ngin, Thourk, Vuthy, Saikhim, Ngaeth, Im, Chroeb, Kha, Tha, Vouchlim, Loem, Vann, Sokh Mach, Tho, Leng, Noen, Sophea, Khen, Check
Twenty-one people who all live in Knong Preaek village in Kandal province make up this village bank. They will use the loan for a variety of purposes, and Mr. Sobon B. is the village bank president. He and his wife, Mrs. H. Teim, sell raw materials which are used to make incense sticks. Since their business is going well, they want to expand it. Thus, Mr. Sobon B. decided to ask for a loan to purchase that material to re-sell. He is 50 years old and the father of six children, two of whom are employed in a garment factory while the others are attending the local school.



One member in this group loan has an end-of-term (EoT) loan and the rest have monthL. payment loans. EoT borrowers are not required to pay aN. principal on the loan until the very end of the loan term. End-of-term 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 financialL. able to. Most clients start to make payments maN. 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 onL. 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
  • 121
    View loans »
    Cambodia Loans Fundraising
  • $36,207,275
    Funds lent in using Kiva
  • 4,116.8
    Cambodia Riels (KHR) = $1 USD

Success!! The loan was 100% repaid

A portion of Mr. Sobon Bo Village Bank Group's $2,900 loan helped a member to purchase more raw materials used to make incense sticks.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 24, 2008
Listed
Feb 1, 2009
Currency Exchange Loss:
Covered
Ended:
Dec 15, 2009