Total loan: $1,600
Mr. Hun Em Village Bank Group
, , Cambodia / Arts
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Mr. Hun Em Village Bank Group's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped To buy supplies for his wife's weaving business.
Mr. Hun Em Village Bank Group's story
This village bank loan group consists of eleven people who live in Preak Ta Ong Ti 1 Village in Kandal Province. Mr. Hun E. was selected by the members to be the village bank president. He is a farmer who owns a plot of land on which he grows rice to earn a living. His wife, Mrs. Tum Hoeung, is a weaver. She needs more raw materials to support her business. Thus, Mr. Hun E. has decided to ask for a loan for his wife's business. He is 59 years old and the father of two children, one of whom is a security guard and the other is enrolled in the local school. One member of this group loans has an end-of-term (EoT) loan; the rest have monthly payment loans. Borrowers with EoT loans 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. It allows thE. 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.