Your gift to help a hardworking entrepreneur will double in impact thanks to a generous World Vision partner.
Sareth is from Cambodia. She needs a loan of $275 to start a grocery store.
Sareth owns a grocery store and also grows corn. She and her husband have three children. He was a fisherman but his income could not feed the children and send them to school. She would like a loan to expand her grocery store by adding more goods to meet her customers' needs. She would also like to increase her farming activities.
Sareth hopes to send her daughter to the university. She believes if she can grow her grocery business and corn farm, she will earn enough to cover her daily expenses as well as save for a new house.
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 the small loan for Sareth Pea to improve her farming and grocery business. She invested her loan of $275 to start a grocery store.
Sareth has now repaid her loan in full. In addition to repaying her loan, Sareth has used her additional income to purchase food for the animals, purchase food for the family and purchase fertilizer.
The loan Sareth received helped her business expand and the profits she is earning create lasting improvements in her life. In the future Sareth hopes to send children to school, start a new business and expand the current business.
Thank you for your support of Sareth and World Vision Micro. These funds are now being recycled to support another eager entrepreneur in the same community.