Your gift to help a hardworking entrepreneur will double in impact thanks to a generous World Vision partner.
Sitha is from Cambodia. He has 1 child. He needs a loan of $300 to buy raw materials for his business.
Sitha is a sculptor who needs funds to support his business.
He does not have enough money to buy silver and other metals. He has faced challenges in making sculptures for his clients on time because he lacks the raw materials to do so.
A micro loan from World Vision would be helpful in expanding his business and would mean he can support his whole family and improve their living conditions.
With funds from any increase of income, Sitha plans to enlarge his business and send all his children to school. He also hopes to be able to repair his house and provide his family with healthy meals.
Retail is a quick and scalable way to begin earning a profit. Many entrepreneurs begin with stalls at markets or even at home and need a loan to expand or increase their inventory. Others may be ready to open a small store. Goods purchased from loan funds range from clothing, grocery or sundry items to jewelry, candy, perfume or health and beauty supplies. Loans in the commerce sector account for around 33% of our loans.
More than 56,000 people make their home in Cambodia’s Leuk Daek district. Located in Kandal province, improvements are needed in social services, healthcare, schools, and roads. Agriculture is the main source of family income, yet 37 percent of the population experiences food shortages for more than four months of the year.
World Vision established the Leuk Daek Area Development Program in 2000. Accomplishments include helping families establish home gardens, teaching farmers new agricultural methods, immunizing children, constructing calverts, and supporting a canal renovation. These changes have helped the Cambodian people to begin making improvements in their lives.
The World Vision-affiliated VisionFund Cambodia microfinance institution does things like educate entrepreneurs about microfinance, disburse loans, and manage repayments. This gives impoverished rural people a chance to back away from local moneylenders and begin sustainable employment opportunities.
Thank you for supporting a small business loan for Sitha Prak to expand his trade as a sculptor. After receiving the loan from World Vision, he invested the $300 to buy raw materials to expand his business.
Sitha has been successfully repaying his loan on time with his new profits. He makes weekly payments of $9.
In addition to repaying his loan, Sitha is using additional income to expand the current business and purchase needed equipment. Sitha's child continues to study in school.
Thank you for supporting Sitha and World Vision Micro!