A loan of $2,275 helped a member buy fertilizer to make his crop more productive.

Mr. Song Shem's Village Bank Group's story

Eighteen people living in Srae Ampil village in Kandal province comprise this village bank, and they will use the loan for various purposes. Mr. Song S. is the 49-year-old village bank president. He is a farmer who hires a plot of land from the other people to cultivate rice on. In this plantation, he has an obstacle because his field is infertile which has a bad to affect on his crop. In order to solve this problem, he decided to ask for a loan to buy fertilizer to support the field to make his crop more productive. His wife, Mrs. Chum Srey Neang, is a pig breeder. Mr. Song S. has eight children, two of whom are employed in a garment factory while five others are enrolled in the local school, and the remaining one is too young to work or study.

Four members in this group have end-of-term loans and the rest have monthly payment loans. End-of-term borrowers 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. 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.

In this group: Song, Nat, Phy, Sokha, Sat, Vy, Mak, Phous, Bunchoen, Leap, Soung, Ha, Thany, Savoen, Sovan, Srey No, Sophall, Pheak

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