100%

funded

Total loan: $3,200

Mrs. Chhorn Ben Village Bank Group

, , Cambodia / Arts

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A loan helped To buy more silk to weave.


Mrs. Chhorn Ben Village Bank Group's story

Mrs. Chhorn B. is a silk weaver in her village. She is 45 years old and the mother of five childrE.: two of tH. are attending the local school while the others are still at home because they are young. Her husband, Mr. Aom Sreav, is a construction worker. Since her business is going well, she wants to expand it, so she decided to ask for a loan to buy more silk to weave. She hopes to increase her income to improve her living conditions. Mrs. Chhorn B. is the village bank president who has beE. selected by the members.

Twenty people, who all live in Kandal village in Takeo province, make up this village bank. The members will use their loans for different purposes. Eight members in this group have end-of-term loans (the rest have monthly payment loans). They are not required to pay any principal on the loan until the very end of the loan term.

End-of-term loans are AMK’s main product because they are the most beneficial to Cambodia’s poor. They allow tH. to repay portions of the principal whenever they are financially 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 only 0.09% and AMK has a default rate of 0% on Kiva.