A loan of $1,950 helped a member to buy fishnets.

Mrs. Savong Hang Village Bank Group's story

This village bank groups consists of 17 members in Stueng village in Kandal province, Cambodia. The members plan to use their loan for various purposes. Mrs. Savong H. was selected by the group members to be the village bank president. She sells vegetables in the village market. Her husband, Mr. Phorn Thean, is a construction worker and a fisherman, but he does not have enough fishnets to increase his catch. Thus, Mrs. Savong H. decided to ask for a loan to buy more fishnets for her husband. She hopes to increase their income and improve their living conditions with this loan. She is 48 years old and the mother of six children, four of whom are employed in a garment factory while the others are enrolled in the local school.

Two members in this group loans will receive End-of-Term (EoT) loans and the rest will have monthly payment loans. In EoT loans, payment on principal is not required until the very end of the loan term but is allowed at any time that the borrower is able to make such a payment. The EoT loan is AMK’s main product because it is the most beneficial to Cambodia’s poor. Most clients start to make principal 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: Savong, Kosal, Salun, Sali, Da, Srey Mom, Yon, Sophy, Van, Saroun, Shinoun, Sophea, Vuthea, Ra, Chan Dorn, Sakhim, Oun

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