Total loan: $2,300

Mrs. Chanthol Kun Village Bank Group

, , Cambodia / Agriculture

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A loan helped To hire laborers to harvest her rice field.

Mrs. Chanthol Kun Village Bank Group's story

The village bank loan which consists of 18-people is located in Damnak Sangkae Village in Kandal Province. Mrs. Chanthol K. is the village bank (loan group) president who has been selected by the members. She is a farmer who owns 1.5 hectares to cultivate rice to earn a living. Because it is now rice harvesting seaS., she needs to hire laborers to harvest her rice for revenue. Thus, she decided to ask for a loan to hire laborers for this purpose. Her husband, Mr. Chum Sem, is a driver who drives a dump truck for a salary. Mrs. Chanthol K. is 50 years old and the mother of four children, two of whom help her on the plantation while the remaining two are attending the local school. Group member Mrs.Khy C. did not come to take her loan, but her husband did; so he is presented in the picture instead of her.

This is a village bank loan consisting of mainly end-of-term loans. Five members have end-of-term loans and the rest have monthly payment loans. Group members 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 financially able to do so. 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 (Kiva's Field Partner) has a delinquency rate of only 0.09%, and a default rate of 0% on Kiva.