A loan of $2,900 helped a member to purchase more raw materials used to make incense sticks.

Mr. Sobon Bo Village Bank Group's story

Twenty-one people who all live in Knong Preaek village in Kandal province make up this village bank. They will use the loan for a variety of purposes, and Mr. Sobon B. is the village bank president. He and his wife, Mrs. H. Teim, sell raw materials which are used to make incense sticks. Since their business is going well, they want to expand it. Thus, Mr. Sobon B. decided to ask for a loan to purchase that material to re-sell. He is 50 years old and the father of six children, two of whom are employed in a garment factory while the others are attending the local school.

One member in this group loan has an end-of-term (EoT) loan and the rest have monthL. payment loans. EoT borrowers are not required to pay aN. principal on the loan until the very end of the loan term. End-of-term 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 financialL. able to. Most clients start to make payments maN. 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 onL. 0.09% and AMK has a default rate of 0% on Kiva.

In this group: Sobon, Sim, Seak Ngin, Thourk, Vuthy, Saikhim, Ngaeth, Im, Chroeb, Kha, Tha, Vouchlim, Loem, Vann, Sokh Mach, Tho, Leng, Noen, Sophea, Khen, Check

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