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Som is from Cambodia. She needs a loan of $250 to irrigate her rice.
Som is from Cambodia. She needs a loan of $250 to irrigate her rice.
Som Yorn has one child and lives in the Kampung Thom Province. She is a farmer who grows rice and raises chickens at home. She needs to irrigate her rice during the dry season but she could not afford to do so. The local money lender charges exorbitant interest rates so that she cannot afford to borrow money from him.
With a loan from World Vision, Som will be able to irrigate her dry season rice crop and have a high yield. She will be able to harvest enough to feed her family and to sell on the market. Her family would be able to have sufficient food to consume everyday which would allow her children to grow healtheir. The additional income will provide her children with enough money for their school fees as well. In the future, she plans to work hard with the goal of opening a small grocery store in front of her house.
The Agriculture business sector covers all farming and livestock activities. Some entrepreneurs request loans to help in securing supplies and equipment. Others want to buy more animals to breed or purchase feed and medicines. The majority of our loan clients live in rural communities where agriculture is already understood as a business model. It is for this reason that approximately 50% of our loans are in the agricultural sector.
In Cambodia’s Prasath Ballang district, social services, infrastructure, and markets are poorly constructed or non-existent. Home to 8,000 families, nearly 95 percent of the residents rely on farming to meet their needs. Others are engaged in crafts or small business. Food shortages occur throughout the year.
World Vision established the Prasath Ballang Area Development Program in 1994. Accomplishments include helping families establish home gardens; teaching farmers new agricultural methods; educating residents on malaria prevention; providing scholarships to students to continue their education; and constructing wells and latrines. These changes have helped the Cambodian people to begin making improvements in their lives.
To help increase household productivity and income, World Vision seeks to provide small business loans for the benefit of poor entrepreneurs. The World Vision-affiliated VisionFund Cambodia microfinance institution does things like educate entrepreneurs about microfinance, disburse loans, and manage repayments. With these loans, borrowers are empowered to expand farming, or start and expand small businesses to generate income. As borrowers earn more money, they can provide their children with nutritious food and an education.
Thank you for partnering with World Vision Micro to provide Som Yorn with a small loan for her farming and livestock business. Som used her loan of $250 to irrigate her rice. She continues to make weekly payments of $5 on time.
With the profits she has earned from her growing business, Som is able to purchase food for the animals, purchase food for the family and purchase fertilizer.
Som's child continues to study in school. Thanks to Som’s hard work, she will be able to provide a brighter future for her. Thank you for supporting Som's small business through World Vision Micro!
Som Yorn has successfully repaid her small business loan. She invested the $250 for her farming and livestock business.
Thanks to the loan that she received, Som was able to use the profits from her business to purchase food for the animals, purchase fertilizer and expand her current business. In the future, Som aspires to earn enough to expand her current business and purchase livestock.
Som's child continues to study in school. Because she was able to invest in her business, she will be able to invest in her family.
Thank you for investing in the power of hardworking people like Som through World Vision! These funds are now available to help other entrepreneurs in Som’s community.
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