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Chanthol is from Cambodia. She needs a loan of $625 to buy silk (She is from Samrong ADP).
Chanthol is from Cambodia. She needs a loan of $625 to buy silk (She is from Samrong ADP).
Chanthol is a silk weaver. Her younger sister helps her with the work. Chanthol also owns a rice field where she grows both wet-season and dry-season rice. She also raises oxen to help her with farming and to sell for profit.
Because of poverty, she and her siblings had to drop out of school. Chanthol's mother fell ill and died when they could not afford medical care. Food became scarce. She borrowed money from a local money lender to start a silk weaving business, but was not successful. As a result, she was in debt. She worked in a factory for four years to repay the loan.
With a new loan, she can expand her silk weaving business. She will be able to help feed her family and send her nieces and nephews to school. After that, she found VisionFund who gave her loan to resume silk weaving again.
Chanthol dreams of making more silk looms and hiring additional additional help. She would like to save enough money to open a grocery store for her sister.
Entrepreneurs with specialized skills can apply for a loan in the manufacturing sector. Examples of businesses in the manufacturing sector are making and selling clothes, shoes, machine parts, baskets…the list goes on. These savvy entrepreneurs see the opportunity in their community and, with the help of a loan and their unique talents, can establish their niche. Only 3% of our loans are in the manufacturing sector.
Nearly 70,000 people live in In Cambodia’s Phnom Sruoch district, one of the region’s poorest districts. Situated in an area of plateaus and mountains, approximately 90 percent of residents are subsistence farmers. Some people earn meager incomes selling rice, charcoal, firewood, or small animals that they have raised. But food shortages still occur four to five months per year. Social services, infrastructure and markets are poorly constructed or non-existent.
World Vision began the Phnom Sruoch Area Development Program in 2001. Accomplishments have included educating livestock farmers on animal health and treatment; establishing home gardens; teaching people about proper hygiene and sanitation to prevent illness; and drilling new wells and upgrading old ones. These changes have helped residents to improve 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.
Chanthol used the loan to buy silk for her weaving business.
Because of the loan, she was able to pay for the silk costs, so she did not have to owe her suppliers for the cost of the silk. This allowed her to reduce her debts.
She is repaying her loan on time and is always prepared for her payments.
She now has enough money to buy silk so she can continue operating her business. She would like to thank World Vision for the loan and wishes the donors that provided the loan all the best in their lives.
Thank you for supporting Chanthol and World Vision Mirco!
Chanthol's business has been getting better. She used the loan to pay for silk, and her profit has now increased 40% over her previous income. As a result, her living conditions have improved. She now earns more than she did before she received the loan from World Vision, since she no longer has to sell her products to her suppliers at a lower prices.
Chanthol would like to thank the donors who funded her loan; she wishes them success in life. She plans to expand her business in the future, so she hopes that donors will still provide loans for families like hers.
Chanthol repaid her loan on time and in full. These funds are now available to help another worthy entrepreneur in her community. Thank you for supporting Chanthol and World Vision Micro!
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