A loan of $3,050 helped a member to buy a boat to start a fishing business.


Mrs. Yoen Toey Village Bank Loan Group's story

The Mrs. Yoen T. Village Bank Loan group consists of 17 people who live in Boeng Krum Leu village in Kandal province. All of the people will use their loans for different purposes.

The members selected Mrs. Yoen T. for the village bank president. A farmer, she owns a 2-hectar field to cultivate rice for her living. Mrs. Yoen T. is 43 years old and the mother of six children, two of whom are employed in a garment factory while the others attend the local school. Her husband, Mr. Some Khaem, is a motorbike taxi driver.

Although Mrs. Yoen T. and her husband try to work hard, they still have insufficient income to support their family. Thus, Mrs. Yoen T. decided to ask for a loan to buy a boat for her husband to start a fishing business. She hopes to increase her income with this new business.

Three members in this loan are end-of-term loans so they are not required to pay any principal on the loan until the end of the loan's term. End-of-term (EoT) loans are AMK's main product because they are most beneficial for Cambodia's poor, who can repay portions of the principal whenever they are financially able to. Most clients start to make their 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: Yoen, On, Sarem, Yut, Na, Mao, Nak, Un, Saroun, Sokhoen, Chanthea, Dem, Praeng, Ry, Yoeun, Yen, Sopheak



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