A loan of $1,775 helped a member to build a new house.


Mrs. Nheom Sorn's Village Bank Group's story

Seventeen people in Preark Roka Village in Kandal Province are applying for a village bank loan. Mrs. Nheom S. was selected by the members to be the village bank president. She owns 1.5 hectares of land (~3.7 acres), on which she grows rice to earn her living. Her husband, Mr. Kung Roem, is a construction worker who makes less than $2 to support his family. Mrs. Nheom S. is 53 years old and the mother of three children, one of whom is employed in a garment factory; the remaining two attend the local school. Although Mrs. Nheom S.'s family members have different businesses, they still live in an old house and in poor conditions. In order to improve her standard of living, Mrs. Nheom S. decided to ask for a loan. She will use the money, along with her savings to build a new house for her family. Mr. Prum V. did not come to the meeting, so he is represented by his wife, who appears in the photo. Mrs. Ky Navy is the group guarantor. She is also shown in the picture. This is a village bank loan which is paid in full at the end of its term. Eight of members have end-of-term loans and the rest have monthly-payment loans. Members with end-of-term loans 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 they are 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: Nheom, Roeurn, Em, Khat, Prum, Morn, Pel, Sin, Churn, Murng, Chhom, Pov, Vatt, Pel, Pov, Pov, Ny
*not pictured



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