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Sokri is from Cambodia. She needs a loan of $1,025 to pay for operating cost of growing cassava and bean.
Sokri is from Cambodia. She needs a loan of $1,025 to pay for operating cost of growing cassava and bean.
Sokri is a farmer who grows dry-season rice, cassava and beans. During planting season, she faces a shortage of cash to pay for seed, fertilizer, and other supplies. She cannot continue planting crops. A loan would enable her to pay the operating costs. She could plant and harvest her crops which feed her family and the extra sold as profit.
By growing her business, Sokri could purchase more land and increase her crops. Her profits would enable her to meet the daily needs of her family and send her child to school.
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.
Sandan district, in Kampong Thom province, is located in the east. There is a history of heavy logging here. The logs fell and the money flowed. But when international pressure forced the Cambodian government to stop deforestation, the money dried up.
Now Cambodians in Sandan struggle. Forty percent of the population live below the international poverty line of $1.25 per day (UNICEF). Improvements are needed in social services, healthcare, schools, and roads. More than 38,000 people live in Sandan, most making a living through agriculture or small businesses, but they lack the infrastructure that would them grow more crops and put an end to chronic food shortage.
The Sandan Area Development Program was established by World Vision in 1995. World Vision has helped to construct irrigation projects, train farmers on new agricultural methods, build latrines, construct culverts, train teachers on new teaching methods, and instruct health agents on nutrition and vaccination regimes.
Thank you for supporting a small business loan for Sokri Tep to expand her farming business where she grows cassava, beans, and rice. After receiving the loan from World Vision, she invested the $1,025 to pay for the operating costs of growing cassava and beans.
Sokri has been repaying her loan on time with her new profits. She makes weekly payments of $13. In addition to repaying her loan, Sokri is using the additional income to purchase food for the animals and purchase fertilizer. Sokri's child continues to study in school.
Thank you for supporting Sokri and World Vision Micro!
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While Sokri Tep initially invested in her business loan by purchasing to pay for operating cost of growing cassava and bean, she has struggled to repay her loan. While we continued to work with Sokri to help her reestablish her business, we regret to report that Sokri has now defaulted on her loan.
Sokri prays that she will someday be able to restart she business so that she can better provide for her family. Sokri would like to sincerely thank the donors who partnered with her. Please pray for Sokri and her family during this difficult time.
Despite the fact that World Vision boasts a repayment rate greater than 98%, there will always be some loans that do not get fully repaid. While World Vision does everything it can to ensure that this does not happen, it is an unfortunate reality that must be recognized when providing loans to less fortunate populations.
Thank you for your understanding, and your support of World Vision Micro. If you have any questions or concerns, please feel free to call our Customer Care line at 1-888-511-6444.
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