Mrs. Nara Yin Village Bank Group
Mrs. Nara Y. is the 30-year-old village bank president. She is a grocer who owns a small grocery store in her house. Her husband, Mr. Tang Lorn, is a farmer who owns a small piece of land on which he grows vegetables. Even though they try hard, they still earn less income than they need, so they face an obstacle to get enough food for the family. Thus, Mrs. Nara Y. decided to ask for a loan to buy food for her family. She has a child who is just four years old.
Mr. Chandara G. did not come to take a loan but his wife did, so she decided to ask for the loan instead.
All but one member in the group have monthly payment loans. One member has an end-of-term loan and is 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. 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.
About AMKAngkor Microfinance Kampuchea (AMK) is a leading microfinance institution in Cambodia with a wide reach of operations. AMK works with over 6,000 villages and serves clients in every Cambodian province. With an average loan size of US$115, AMK’s focus is to provide credit and savings products to the very poor in rural areas. For more information, please visit AMK's website.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid