Your gift to help a hardworking entrepreneur will double in impact thanks to a generous World Vision partner.
Pheap is from Cambodia. She needs a loan of $250 to use as working capital for her grocery store and farm.
Pheap is a farmer who grows dry-season rice in order to support her large family. In order to supplement her income, she also runs a small grocery store where she sells watermelon. She currently lacks the capital necessary to run both her businesses and cover all of her eleven children's school fees. This financial bind has also put the family in the position that some of her children have to help her with her businesses.
With a loan from World Vision, Pheap will have the working capital she needs to start planting dry-season rice, as well as buy some merchandise for her grocery store. The farming assistance will help her bring in a better harvest yield. And with more merchandise available, Pheap will draw in a greater client base and increase her sales in the grocery store. In the future she hopes to renovate and enlarge her store in order to service a greater number of customers.
With the additional income she will bring in from her expanded businesses, Pheap will be able to improve her family's living conditions and support their daily consumption. She also plans to cover more of her children's educational expenses so that, hopefully, all of her children will be able to start attending 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.
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 a small business loan for Pheap Chea to expand her farming, food and grocery business. After receiving the loan from World Vision, she invested the $250 to use as working capital for her grocery store and farm. Pheap has been repaying her loan on time with her new profits. She makes weekly payments of $5.
In addition to repaying her loan, Pheap is using additional income to purchase food for the family, purchase fertilizer and expand the current business. Pheap's 11 children continue to study in school.
Thank you for supporting Pheap and World Vision Micro!