Mr. Loeb Rathana selling clothes and sports equipment
A young businessman starts up his favorite business with LOLC (Cambodia)’s loans.
Mr. Loeb Rathana is a young businessman who is selling clothes and sports equipment at Kor Anderk market in Prasat Village, Prasat Commune, Kampong Trabek District, Prey Veng Province.
Before becoming an LOLC (Cambodia) client, Mr. Loeb Rathana sold clothes in a family’s shop. Later, he got to know LOLC (Cambodia) coincidentally through playing sports with LOLC (Cambodia) staff together, he then caught up some information of loan product during chit chat. With the purpose of starting up his own business, he learned more about LOLC’s loan terms and conditions. As a result, the documents and requirements are very suitable for
him, which he decided to choose LOLC (Cambodia).
Mr. Loeb Rathana began his own business with LOLC’s loan in the late of 2020 by purchasing a store, and clothes and sport equipment for own sale. Running a business with a lot of competitors, but his business kept growing because he always built good relationships with customers. Seeing the potential of the business after running for the past two years, he applied for a second loan in 2023 to buy more clothes, shoes, bags, and sports equipment to meet the growing demand of customers. He plans to use another loan products to set up a new store in the future.
Mr. Loeb Rathana is satisfied with LOLC’s loan products which fit his business requirements. Also, LOLC’s staff are trusted and professional with good behavior.
Aunty Chhoun Sorphorn operate a diverse range of beverage businesses
Effective collaboration between spouses, coupled with adequate capital, plays a pivotal role in fostering business growth.
Aunty Chhoun Sorphorn and her husband exemplify this synergy as they operate a diverse range of beverage businesses in Prachea Thom Lech Village, Phsar Kandal Commune, Poipet District, Banteay Meanchey Province.
Since 2012, Aunty Chhoun Sorphorn has been a valued client of LOLC Cambodia, utilizing their loans strategically. Her initial loan was instrumental in expanding her business. Second and Third loans were utilized for purchasing a car and enhancing the comfort of their home. Currently, Aunty Chhoun Sorphorn is using her fourth loan from LOLC Cambodia to further strengthen and prosper her family business.
Cambodia’s loan has proven invaluable for Aunty Chhoun Sorphorn's family, help business growth and enabling them to offer a diverse range of products to their customers. This success has translated into an improved quality of life, transitioning from a small, challenging wooden house to a more spacious and comfortable stone house. Additionally, owning a car has facilitated convenient travel for Aunty Chhoun Sorphorn's family. After becoming a LOLC Cambodia client, her family able to live in a good condition and had some money left over after monthly expenses. Aunty Chhoun Sorphorn emphasizes the importance of spousal cooperation with the right capital, citing it as a crucial factor in promoting business growth and fostering happiness within the family.
Mr. Sim Piseth, an electrical appliance, and animal feed seller
"My dream is to become a best salesman by continuing to expand my business,"
Mr. Sim Piseth, an electrical appliance, and animal feed seller, in Mondulkiri province's Pichreda district, is LOLC’s client who has followed his dream by expanding his business even bigger after using LOLC’s loan.
Mr. Sim Piseth used two cycles of LOLC’s loans to purchase electrical equipment and animal feed, as well as some necessary financial support to expand his business following his goal and dream.
With LOLC’ loans, Mr. Sim Piseth transformed himself from a stall seller to a larger shop owner who has enough goods to sell, which make his business grow better with sustainability.
Ms. Dy Sonai, from a roasted duck sales staff to become a business owner
From a roasted duck sales staff with her brother who receives monthly paid, Ms. Dy Sonai has become a business owner, which started her own roasted duck business after receiving an initial loan from LOLC (Cambodia) Plc. in 2019.
Ms. Dy Sonai is a qualified client who used LOLC loan in the right purpose and succeeded in her business, receiving high income to support her family. "I am so happy, and I believe that I am a good customer of LOLC with a good and successful history of using loans." Ms. Dy Sonai’s impression.
After her business grew smoothly and as well as the confidence in the quality of LOLC's products and services, Ms. Dy Sonai decided to continue using two more loan cycles to build a house and start up a new shop to fulfill her
dream of living in her own house and increase more income. As a result, Ms. Dy Sonai has successfully achieved her goals and dreams of having her own business, a comfortable house, and a new duck shop as well.
Mr. Eav Im Grocery Selling and farmers
Mr. Eav Im, 44 years old, and spouse, lives in Dey Lo village, Chey Udom commune, Lumphat district, Ratanakkiri province. They have been in the business of selling groceries for nine years. In addition to grocery selling, they are also cassava and cashew farmers. Mr. Eav Im and Ms. Pha Phok have two children; the first child is a motorcycle mechanic, and the other one is a secondary school student.
Mr. Eav Im said, he knew LOLC through his neighbor and was quite interested at that time. Later, when the LOLC Financial Sales Advisors came to promote his village, he asked for more detailed information and more understanding about the loan feature and decided to apply for the loans from the LOLC. As of now, he has applied for up to
three consecutive loan cycles from LOLC, which all the requests were at the same purpose, expanding cultivation by purchasing additional land to grow cashews and cassava in addition to his existing business. After expanding the cultivation of cashew and cassava plantations to a larger extent, post-harvest yields increased significantly, and his crops continued to be sold to brokers who came to collect from the plantation field. By now, the living condition of his family is much better because his income from selling crops has doubled. Mr. Eav Im expressed his gratitude to LOLC for taking care of their clients, especially himself, that receiving consultant on how to strengthen and expand the business to sustainable grow.
Mr. Lieu Taily planting garlic chives and longan
Mr. Lieu Taily, a 63-year-old farmer in Svay Pum Trang village, Koh Anlong Chen commune, Takhmao City, Kandal province, said that before using loans from LOLC Cambodia, he also learned about the loan conditions of other financial institutions, to apply for a loan to expand his business, planting garlic chives and longan.
However, after getting to know LOLC Cambodia through the introduction from the local authority, he noticed that the features of LOLC Cambodia Loan are much better, especially the low-interest rate and the service provided by the staff was professional and fast. As a result, he decided to take a loan from LOLC Cambodia at that time.
With the loan features that meet the needs of the business, making his family’s lives better
through the increase of his income. Seeing opportunities to further expand his sources of income, Mr. Lieu Taily applied for an additional loan, allocating some of the money to develop his farmland and the rest for house renovation. As of 2023, he has a total of three loan cycles with LOLC Cambodia, while the third loan is used to buy more lands and expand the plantation. Mr. Lieu Taily said that he was very satisfied with the LOLC Cambodia loan because through this loan service his life has improved a lot, especially he can expand his farm land.
Mr. Sam Sokuy, working as a mechanic
Mr. Sam Sokuy, a 45-year-old motor and car mechanic, and his wife, a tailor, reside in Chhnal Moan village, Chhnal Moan commune, Koas Krala district, Battambang province.
According to Mr. Sokuy, he has been working as a mechanic for four years, while his wife has been running her tailoring business. However, their businesses did not grow due to a lack of funds to improve their existing businesses.
After getting information of LOLC from his relatives, Sokuy and his wife decided to apply for their first loan in 2021. They used the loan to purchase spare parts for repairing motorcycles and cars, as well as fabric for Nub Sunan’s business. The loan helped them meet the demand from customers, and they applied for a second loan at the end of 2022
to buy more sewing machines. Now, both of their businesses have grown significantly because there are enough fabrics and materials to meet the needs of customers and all kinds of spare parts for repairing motorcycles and heavy vehicles, which can increase their income and make his family life better. Sokuy said, "The loan from LOLC has really improved my family's life and I believe that I will be able to support my four children to get a good education."
Mrs. Nun Vandy, groceries seller, food seller and a farmer
Mrs. Vandy, 52 years old, is living in Chrey Pir Village, Chrey Commune, Moung Ruessei District, Battambang Province. Vandy has 2 children; Vandy is a groceries seller, food seller and a farmer. As of now she has run her business for 30 years.
With a smiley face, Vandy said that before receiving the loan from LOLC, she did not have enough capital to expand her existing businesses, despite knowing that the market was in high demand. As a result, she decided to request a loan from LOLC to meet the needs and seize the opportunity to expand the business. She received her first loan from LOLC in 2018 and decided to take out her second, third and fourth loans to expand the businesses as mentioned above.
Through the bigger growth
of the business from time to time, Vandy is able to generate more income to support her family, child's education, and also house renovation. Vandy said, when we borrow money to do business, we have to pay some interest, but if we wait to have enough money, it will take time to wait and may lose good opportunities for some businesses. But the important thing is we need to have a proper plan and strong commitment to ourselves that the money we bring is to generate more income through the business opportunity which is bigger than the cost of loan repayment. "I am very grateful to LOLC for providing an excellent source of capital to support my business to grow as it is today," she added.
Mrs. Thorn Sopheavan, Small Coffee Shop Owner
“Thanks to LOLC loan, I have enough capital to start a new business, and money for my son go to school regularly,” Thorn Sopheavan described the changes in her family’s life since accessing LOLC loan in 2016.
Sopheavan lives in Wat Kandal village, Reang Kesei commune, Sangke district, Battambang province, she was a farmer to feed her family before approaching LOLC. “In the past, I could not support my family well since I could generate only USD 200 a month from our farming,” said 37-year-old Sopheavan.Strongly wanting to move out of difficulty, Sopheavan and her husband, Chan Vutha, decided to approach LOLC to request a group loan of USD 375 to buy coffee shop items to set up a small coffee shop. Although it
was not that big, this business was the turning point for their life to be better. Then she requested for second group loan was USD 500 in 2017 and third group loan of USD 2,000 in 2022 to buy more items to support her coffee shop business and to sell more foods. I can earn around USD 500 per month, and I am very happy and strongly believe that the loan from LOLC is really improving my family's life”.
Mrs. Hang Neat, Starting a business with Group Loan
Mrs. Hang Neat, 60, lives with her husband, Khun Seanghun, and a son in Chrous Chrov Pouthisal village, Kranhuong Senchey Commune, Snuol District, Kratie Province. Neat began planting and caring for rubber trees for sale with the first, second, and third Group Loans in the amounts of US$ 1,250, US$ 1,500, and US$ 2,000, instead of working as rubber latex harvesters for neighbors. She currently has her own rubber farm, many rubber plants for sale, and can earn approximately US$ 625 per month. “LOLC Cambodia was the best problem solver for my business. There is not only suitable price, but the loans gave me enough funds to run and expand my business, which improved the daily lives and needs of my family,” Mrs. Hang Neat said.
Mr. SOK RITHY’S SUCCESS STORY
He had been using LOLC Cambodia loans for 5 cycles already to improve his agriculture business. He told LOLC Cambodia that “I started using the loan from LOLC since 2016 and I really appreciate their cooperation”. In addition, “Loans from LOLC not only help to increase my agricultural productivity and family living standard but also build prestige to my family”. He added “my neighbors said that now I am a successful business owner and I myself also share that sort of feeling.”
Mrs. Yoeurn Nhoeb, Group Loan
Mrs. Yoeurn Nhoeb is a grocery seller in Sre Roneam village, Khsem commune, Snoul district, Kratie province. She is living with her children (a boy and a girl) and husband who is the staff of a construction company. Before getting the loan from LOLC, she just did the cashew farm to support the family daily income but that was just a small farm which can't make a big income. In June 2019, she was introduced about loan products of LOLC by her neighbor and after discussing with her husband, she decided
to request a group loan of USD 750 to bough some grocery items to start her small grocery store in her small zinc roof house. "I was so happy because I have my own business even if it's just a small one, but I still can earn around USD 30/day which can help to support some of my family daily expenses" she said. She has a good habit of saving that she always saves around USD 5 every day. She always gradually adds up her grocery stock in order to fill up her customer needs, but her space is too tiny. So, at the end of 2020, she requested a new group loan of USD 1,000 to build yard in front of her home, so this yard is not only improving her house, but it also be a wide grocery store. "Now, I have enough space to expend the grocery stock, but I couldn’t do it since my capital is still limited" She added. So, with support from her husband, she could early pay off the second loan and asked for another bigger loan size of USD 1,500 to increase more grocery stock. Now her store is a medium-sized one in the village, she can earn the profit around USD 10 per day. "I can easily support my kids’ study and I also gradually save more in order to hit my goal to renovate my house" She finished.
Mrs. Vorn Phall, Orange Farmer
"Due to the Covid 19 pandemic in 2019, we couldn't go out and had to rely entirely on savings for our daily expenses. So, we didn't have enough money to take care of our orange farm," Mrs. Vorn Phall, who lives in Phnom Krovang District, Pursat Province, explained. "LOLC Cambodia Plc. loans benefited us a lot since we had the capital to take care of and grow our orange farm, and we expect to obtain more revenue from our orange farm for the upcoming harvest," she added.
She and her husband, Sim Chan,
were recommended by a friend to apply for a loan from LOLC in the beginning of 2020. She used the first loan of $1,500 to purchase fertilizer and upgrade the current irrigation system in order to enhance the quality and quantity of oranges. After repaying the first loan, she requested a second loan of US$ 2,000 to expand her orange farm to 8 hectares. She currently earns roughly US$ 800 per month from orange selling, and after paying the loan and other household bills, she has around US$ 150 left over for savings.
Mrs. Tiv Saophorn
Mrs. Tiv Saophorn was compiling the eel finishing tool (Poang) under a wooden house in Toul Roka village, Melum commune, Boribo district, Kampong Chhnang province. She described “I was living in a small wooden zinc roof house and my family income was relied on my husband and son. But now I can earn around US$ 250 from rice farming and making eel fishing tool.”
One day she met LOLC staff who introduced her about the loan products. Then she decided to ask for the first Group Loan (GL) of US$ 1,000 in 2019 to buy some fertilizer for rice farming and buying the raw material for making eel fishing tool. She always sells eel fishing tools and rice crop to the brokers who came into the village, and she could save around US$ 50 every month.
After that she could early pay off the loan and get another loan of US$ 1,750. With her saving and the loan, she could renovate her house since the roof always leaked the water when it was raining. In April 2021, she asked for 3rd loan of US$ 2,000 to buy more raw materials for making eel fishing tools and rice farming. “Of course, I am really happy since currently I have latrine, better house for my family, and I have a new source of income, making eel fishing tool,” said Mrs. Saophorn.
Mrs. Sorm Ra, Duck Raising Farmer
Sorm Ra, duck raising farmer in Krasang Village, Sanlong Commune, Treang District, Takeo Province.
Ra and husband, Nhoem Chhea, were interviewed during collecting eggs and informed that “In 2020, we able to earn only 750 eggs per day and now we can increase of up to 1,500 eggs per day after added more ducks”.
Ra and her husband were recommended by their neighbor to apply for the loan from LOLC Cambodia in 2020. So far, the egg price started increasing day by day and it’s a significant opportunity to increase the duck in their farm. She has been using 2 cycles loan from LOLC with the amount of US$ 750 and US$ 3,500 respectively, to buy more ducks.
we have around 3,500 ducks and approximately could earn 1,500 eggs per day which can generate around US$ 2,600 per month. After paying for the duck food, family expenses, and repay the loan, we can save around US$ 450 per month accordingly” Ra said.
Mrs. Sun Mom, Papaya Salad Seller
Holding the pestle in hand, Mrs. Sun Mom, widow, 57, is so busy with her clients but she still seeks to describe us about her livelihood before and after using a loan from LOLC. She said, “I have two sons and a daughter. After the first two sons got married and left, I have been living with the married daughter and take care of grandchildren”.
She’s a farmer in Angkor Ban Ti 6 Village, Angkor Ban commune, Kang Meas District, Kampong Cham Province. In the free time of farming, she also wanted to run a small business to gain some profit to support her daily expense. But the problem was the capital.
Fortunately, in Oct 2019, she heard about the loan information from her neighbor so
she discussed with her daughter to ask for a first Group Loan US$1,250 to start a small papaya salad shop in Angkor Ban Pagoda. Then she decided to get another loan of LILAB amount US$ 2,070 for buying a motorbike to help her easily travel to the market. In order to improve her papaya salad shop, she applied the third loan of US$3,600. My papaya salad shop gets support from many clients, especially Green Papaya Salad (Buk L’hong) because it’s so delicious, in this small new business I can earn about US$30 per day after paid on the expenses, she remains about US$ 300 per month,” “LOLC Cambodia has changed me from a woman who had no income, now I became a seller with dairly incomes. In the future, I will expand my stall bigger than this to increase more income. I would thank LOLC backed up my capital.” She ends smiley.
Mrs. Un Chanthorn, Grocery shop, and buy weaving materials for her own weaving
Krama is a symbol in Cambodia and represents its legacy. Krama is engaged in continuing this legacy for generations all over the world.
Mrs. Un Chanthorn was a Krama (yarn scarf) Weaver for neighbors and her husband, Chin Vichet, was a blacksmith. They could earn around US$ 250 per month which could only support their family, but they did not have enough time to take care their family including Chanthorn’s mother. Chanthorn and her husband dreamed to have their own business instead of working for wage, but they did not have capital. Fortunately, they were introduced about LOLC Cambodia from
fiend, so they decided to get the loan from LOLC since 2018. So far, there are three loan cycles of US$ 1,750, US$ 6,000, and US$ 7,000 to set up new businesses, grocery shop, and buy weaving materials for her own weaving at home. Currently, she could earn around US$ 300 from grocery shop and US$ 250 from her own Krama weaving at home as the profit per month. “Now, my husband and I are very happy since we have our own businesses at home which allows me to have enough time to take care my family and mother” Chanthorn said.