A loan of $1,650 helped a member to buy sugar cane to make juice and start a business to earn more income.


Mr. Meng Tuy Village Bank Group's story

Fourteen people living in Preaek Doung village in Kandal province comprise this village bank loan, and they will use the loan for various purposes. Mr. Meng T. is the 49 year old village bank president. He and his wife, M.. Chhun Bunthon, are cooks who are hired to cook at wedding ceremonies, festival ceremonies, parties, etc. This couple has eleven children, two of whom are employed in a garment factory while two others are laborers at pig breeding businesses. Four are attending the local school and the remaining stay at home because they are too young to work or study. Mr. Meng T. is requesting a loan to buy sugar cane to make juice and start a business to earn more income. Six members in this group loan are end-of-term loans and the rest have monthly payment loans. Those who have end-of-term loans 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. 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: Mr. Meng, Angkear Boss, Sokh Houn, Khoen, Shi, Sakhorn, Samarth, Sokhom, Chanthol, Sothol, Vanney, Channey, Thoeurn, Lat
*not pictured



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