A loan of $2,750 helped a member to add to her savings to build a staircase for her house.

Mrs. Mao Vannak's Village Bank Group's story

Mrs. Mao V. is a village bank president of twenty-one members in Stueng Village in Kandal Province. The members will use the loan in various ways. For instance, Mrs. Mao V. owns a pool table which she rents to players. Her husband, Mr. Huot Savan, helps her in the business. They have nine children; seven of whom are employed in different businesses while the remaining two are attending the local school. Although Mrs. Mao V.'s family members have different business activities, they still do not have enough money to complete their house. Thus, Mrs. Mao V. has decided to request a loan to add to her savings to build a staircase for her house.

This is a village bank loan consisting mainly of end-of-term loans. Three members have end-of-term loans and 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 (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: Mao, Tuy, Meas, Prum, Chin, Kuorn, Chhean, Thuork, Koem, Yorn, Yorn, Mel, Chhorn, Prum, Dy, Ol, Prakk, Aun, Lauv, Soth, Lauv

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