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Sophorn is from Cambodia. She needs a loan of $250 to purchase pig feed .
Sophorn is from Cambodia. She needs a loan of $250 to purchase pig feed .
Sophorn owns and operates a grocery store, and has begun another business raising pigs. She wants to expand her second business so that she can increase her income and provide a better life for her family.
With a loan from World Vision, Sophorn plans to purchase feed for her animals. She has already built a pigpen, and with the help of the loan, she knows that she can raise healthy animals to sell for a profit. Sophorn will use this additional income for daily necessities and education for her three children. She is married, and her husband grows rice to feed the family. In the future, Sophorn hopes to also have a banana farm.
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.
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.
Sophorn's main business is farming and pig raising, so she used the loan to buy fertilizer and pig feed. Because of the fertilizer, her crops are growing well and are healthy. Her pigs were growing fast, and she could sell them faster which helped to reduce cost of raising them. In total, her income increased. Both of her businesses have become more successful.
She has been repaying the loan on time. Thank you for supporting Sophorn and World Vision Micro!
Thank you for supporting the small business loan for Sophorn Sun to improve her grocery and livestock business. She invested her loan of $250 to purchase pig feed.
Sophorn has now repaid her loan in full. In addition to repaying her loan, Sophorn has used her additional income to purchase food for the animals, purchase fertilizer, and expand the current business. Sophorn's 3 children continue to study in school.
The loan Sophorn received helped her business expand and the profits she is now earning create lasting improvements in her life. In the future Sophorn hopes to expand the current business and purchase livestock.
Thank you for your support of Sophorn and World Vision Micro. These funds are now being recycled to support another eager entrepreneur in the same community.
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