100%

funded

Total loan: $1,250

Mrs. Sareth Mang Village Bank Group

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, , Cambodia / Agriculture

Mrs. Sareth Mang Village Bank Group's loan finished fundraising,
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A loan helped To buy rice seeds.


Mrs. Sareth Mang Village Bank Group's story

Mrs. Sareth M. is the Village Bank President of ten people who all live in Kandal Leu Village in Kandal Province; all the members will use the loan for different purposes. For instance, Mrs. Sareth M. is requesting the loan to buy rice seeds since she currently has an insufficient amount to cultivate rice, and she also hopes to increase her rice revenue to better support the family with this loan.

Sareth is the 53 year-old mother of five children, three of whom are employed in different business activities while the others are attending the local school. Her husband, Mr. Keo Phal, is a village chief who makes a small salary that helps to support the household.

This is a village bank loan consisting of mainly end-of-term loans. Three members have end-of-term loans and 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 (EoT) loans are AMK’s main product because they are the most beneficial to Cambodia’s poor, allowing them to repay portions of the principal whenever they are financially able to. 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% with Kiva.