A loan of $2,250 helped a member to buy silk for weaving.

Mrs. Phul Phai Village Bank Group's story

Mrs. Phul P. is a farmer who owns a small piece land to cultivate rice and she is also a silk weaver in the local village. She is a widow with three children who are all attending the local school. Since the second business is going well, she has decided to ask for a loan to buy silk for her weaving. She is the village bank president, who has been selected by the members.

This village bank consists of 18 people located in Kandal village in Takeo province. The members will use their loans for different purposes. Eleven members in this group have end-of-term loans (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 loans are AMK’s main product because they are the most beneficial to Cambodia’s poor. They allow 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: Phul, Tum, Pheap, Oeun, Lang, Srin, Yoeun, Pheang, Pheann, Sinuon, Phat, Sokheang, Khorn, Kim, Nget, Boeurn, Sareth, Sokhy

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