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Neng is from Cambodia. She has 4 children. She needs a loan of $1,000 to purchase cows.
Neng supports her family by farming rice and vegetables. She has a second job as a trader, buying and reselling cows. She wants to expand her farm and make it more profitable to improve living conditions for her family.
With a loan from World Vision, Neng will be able to purchase cows not just for reselling, but to keep for her farm to assist with plowing. With this improvement, she will no longer need to pay others to help her plow, and her farm will be much more profitable. She will be able to afford the educational expenses of all four of her children, and to improve the family dwelling. Neng plans to continue to reinvest in her farm, which will support agricultural development and the standard of living for the entire community.
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.
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.
Thank you for supporting a small business loan for Neng Hoat to expand her farming and livestock business. After receiving the loan from World Vision, she invested the $1,000 by buying cows.
Neng has been repaying her loan on time with her new profits. She makes weekly payments of $13. In addition to repaying her loan, Neng is using additional income to purchase food for the animals and purchase food for the family. Neng's 4 children continue to study in school.
Thank you for supporting Neng and World Vision Micro!