A loan of $2,275 helped a member to add to her savings to buy a motorbike for her husband to start a motorbike taxi driving business.

Mrs. Phal Saing Villag Bank Group's story

Twenty people who all live in Pun Phnum Village in Takeo Province make up the village bank loan. All the members will use the loan which they obtain for different purposes.

Mrs. Phal S. is a village bank president who has been selected by the members. She and her husband, Mr. On Hol, own a small piece of land to cultivate rice to earn for livI.. They have seven children, one of whom is employed in a garment factory, while the others are enrolled in the local school, and the youngest one is too young to work or study because that child is at the age of five years old.

Although Mrs. Phal S. and her family have different businesses, they still cannot provide better conditions for the family. In order to improve these livI. conditions, Mrs. Phal S. decided to ask for a loan to add to her savings to bU. a motorbike for her husband to start a motorbike taxi drivI. business. She hopes to improve her livI. conditions with this new loan.

This is a village bank loan consistI. of mainly end-of-term loans. Nine members have end-of-term loans and the rest have monthly payment loans. These nine 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 to. 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: Phal, Chan Dara, Vy, Savy, Saroem, Vuoch Lai, Phorn, Sokhim, Mom, Vuoch Long, Chanthy, Chhan, Morn, Ngoem, Vy, Phat, Nach, Yon, Cheang, Khom

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