A loan of $975 helped a member to buy a piece of land to cultivate rice.

Mrs. Noeurn Peang Village Bank Group's story

The village bank, which consists of ten members, is located in Prasat Village in Kampong Cham Province and they plan to use the loan that they have obtained for various purposes. Mrs. Noeurn P. is the village bank president who has been selected by the members. She is a farmer who owns a small piece of land used to cultivate rice to earn her income. With the rice revenue, she not only cannot support her household, but she also cannot afford to buy another piece of land to cultivate more rice. Therefore, she decided to ask for a loan for this purpose. With this loan, she hopes to increase her income and improve her living conditions within a few months. Mrs. Noeurn P. is 60 years old, a widow and the mother of nine children. Two of her children are employed in a garment factory. Five others are laborers and the others are enrolled in the local school.

This is a group loan consisting of mainly end-of-term loans. Seven 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 term. End-of-term (EoT) loans are AMK’s main product because they are the most beneficial to Cambodia’s poor. This system allows them to repay portions of the principal whenever they are financially able. 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 a default rate of 0% on Kiva.

In this group: Noeurn, Lai Heak, Srun, Sok Vun, Sokhon, Yang, Yon, Nun, Neun, An

Loan details

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Loan details