A loan of $1,100 helped a member to request a loan to hire laborers to harvest rice on his field.


Mr. Vat Von Village Bank Group's story

Eleven people who live in Srae Kouk village in Kandal province formed a village bank and Mr. Vat V. is the village bank president. He and his wife, Mrs. So Phan, are farmers who own a plot of land to cultivate rice. Since it is now the rice harvesting season, they do not have enough money to hire laborers to harvest rice. Thus, Mr. Vat V. decided to request a loan to hire laborers to harvest rice on his field. He is 60 years old and the father of five children, two of whom are employed in a garment factory while the others are attending the local school. This is a group loan consisting of mainly end-of-term loans. Six 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 it is 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 their payments many months before the end of the loan term. Almost all of AMK’s client 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: Vat, Chan, Nom, Shi Noy, Mech, Moen, Sokly, Ratha, Phally, Sokphea, Sarom
*not pictured



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Loan details