Mrs. Sokrey Choeun Village Bank Group
Mrs. Sokrey C. is the village bank president of sixteen members who all live in Trapang Kor village in Kampong Chhnang province. Mrs. Sokrey C. is 34 years old and the mother of five children who attend the local school. Her husband, Mr. S. Sarath, is a farmer who owns a small piece of land on which he cultivates rice.
Mrs. Sokrey C. owns a small store in the local market. Her customers make many requests for additional goods. To fulfill her customers' needs, she is requesting a loan to buy more groceries for her store.
This is a group loan, mainly consisting of end-of-term loans. Four members have end-of-term loans, and the rest have monthly payment loans. These members are not required to pay any principal on the loan until the very end of the loan's term. End-of-term (EoT) loans are AMK’s main product because they are the most beneficial to Cambodia’s poor. These loans allow them to repay portions of the principal whenever they are financially capable. Most clients start to make their payments many months before the end of the loan's term. Almost all of AMK’s clients make their payments on time. AMK has a delinquency rate of only 0.09% and 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