Mrs. Sreang Lang Village Bank Group
This village bank loan, which consists of eleven people, is located in Trapang Buon village in Kampong Chhnang province. Mrs. Sreang L. is a village bank borrower that has been selected by the group members and the loan will be used for many different purposes. For instance, Mrs. Sreang L. is requesting the loan to buy more fish for her current business which is going well. Her husband, Mr. Mao Da, is a farmer who owns 1.5-hectar and cultivates rice for a living. Mrs. Sreang L. is 42 years old and the mother of five children. Two of the children help their father with the farming while the remaining three are attending the local school. Mrs. Kmao Ur and Mrs. Voeurn M. who are group guarantors are also presented in the picture with other village bank members.
Eight members in this village bank loan are end-of-term loans and the rest have monthL. payment loans. They 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 financialL. able. 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 onL. 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
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.
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Success!! The loan was 100% repaid