Seventeen people make up this village bank loan and they live in Krapeu Troum village in Kandal province. Mrs. Sopheap Chann, who is 59 years old, is the village bank president, selected by the other members. Each member will use their portion of the loan for a different purpose.

Mrs. Sopheap Chann is a land broker who is able to earn some money to support her family. Her husband, Mr. Hun Huk, operates a trailer and is also able to earn some money to support his family.

Although they both try to work hard they are able to earn only a little money. So, to improve their family living, Mrs. Sopheap Chann is applying for a loan to buy rice to sell to start a new business to increase her income this year.

Mrs. Sopheap Chann is the mother of a child who is a seamstress in a garment factory.

Loan Request: $2,725. Pre-Disbursed. Your funds will be used to backfill this loan. Repayments on this loan will go to you

Listed: Aug 1, 2010

Loan Use: To buy rice to resell

Repayment Term: Repayment between 1 and 3 years

Financial Return: Between 1% and 2%

Currency Exchange Loss: Possible

About Group Loans: In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.

AMK (Angkor Microfinance Kampuchea) administers this loan.

AMK is a leading microfinance institution in Cambodia operating in over 6,000 villages with over 220,000 clients. AMK is the first microfinance institution to have operations in every province in Cambodia and they work in nearly half of all villages in Cambodia. The focus of AMK is on very poor clients in rural areas which is demonstrated in the average loan size of just $115.

AMK’s Mission:

"To help large numbers of poor people to improve their livelihood options through the delivery of appropriate and viable microfinance services."

AMK's Guiding Principles:

1. AMK provides microfinance services to poor people in Cambodia that are grounded in sound financial discipline at all levels.
2. AMK is committed to openness and transparency in all areas of management and operations.
3. AMK is committed to developing processes/services and to adopting behaviors and standards that ensure optimum social performance, including client protection.
4. AMK is a learning organization where appropriate exchange and sharing of information will contribute to staff development, training, and policy and systems improvements.

AMK's Code of Practice for Client Protection:

1. Maximize the inclusion of the poor and other marginalized populations who meet AMK's other criteria for selection.
2. Minimize the exposure of (poor) clients to financial products that may prove harmful if they promote over-indebtedness.
3. Provide complete information to clients about policies and procedures, and ensure complete transparency in transactions.
4. Facilitate and promote complete freedom of choice to clients.
5. Ensure appropriate and respectful behavior of staff and management towards clients.

AMK has received numerous prestigious awards and recognitions:

1. MFI Gold Certificate Award for Transparency in Social Performance Reporting presented by TheMIX and CGAP.
2. In 2008, AMK was recognized by the National bank of Cambodia with an award for its contribution to enhance financial services outreach throughout Cambodia.
3. Runner up in the 2008 European Microfinance Awards.
4. Ranked as the Highest Microfinance Institute in Cambodia and in the Top 20 in the world in the 2006, 2007 and 2008 MIX Global 100 Composite Rankings based on outreach, efficiency and transparency.
5. CGAP Global Financial Transparency Award in 2005 and 2006.
6. Unitus Effectiveness Award

AMK is endorsed by Microfinance Transparency.

• Country: Cambodia
• Average Annual Income: $2,600
• Currency: Cambodia Riels (KHR)
• Exchange Rate: 4,260 KHR = 1 USD

US$ 20 will provide part of the loan.

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