Mr. Ek Sovimon’s Success Story with LOLC Cambodia’s Loans
Mr. Ek Sovimon, a seasoned motorcycle mechanic with years of experience, encountered challenges in expanding his business due to a lack of capital. Recognizing the potential benefits of loan products, he made the strategic decision to approach LOLC Cambodia for financial assistance to propel his business growth.
The loans extended to Mr. Ek Sovimon by LOLC Cambodia played a pivotal role in fostering the expansion of his business. With the acquired capital, he was able to augment his inventory of spare parts and repair equipment, thereby enhancing the quality of customer service provided by his establishment. Furthermore, he harbored aspirations of investing by purchasing land that could be sold at a profit when market prices appreciated.
In a heartfelt speech, Mr. Ek Sovimon conveyed his profound satisfaction and joy with the loan products and services rendered by LOLC Cambodia. He attributed his ability to elevate his small business into a larger one and substantially boost his monthly income to the support and financial backing received from LOLC Cambodia.
Through prudent financial management and leveraging the resources made available through LOLC Cambodia, Mr. Ek Sovimon was able to realize his business ambitions and transform his business into a flourishing venture that not only met but exceeded his expectations.
Mrs. Ros Sokun is a successful business owner in Sasar Sdam Village in Sasar Sdam Commune, Puok District, Siem Reap Province
She is a role model who has proven that all financial challenges can be overcome by making the right decisions and choosing a trustworthy financial partner.
Mrs. Ros Sokun specializes in trading various currencies and imitation jewelry. Despite her expertise, financial challenges continue to impede her business’s expansion. In pursuit of a viable solution, she sought assistance from LOLC Cambodia and secured 8 cycles of loans. With a wise decision, she used the loans to expand her business operations and acquire valuable land assets.
Sokun’s business thrived beyond her expectations due to her unwavering dedication and prudent loan management. The remarkable growth in profits not only allowed her to promptly repay the LOLC Cambodia loan but also undertake a significant renovation of her home, greatly enhancing its quality.
Overflowing with gratitude, Mrs. Sokun expressed, “I am delighted to have received loans from LOLC Cambodia as it has empowered me to expand my business and secure sufficient working capital.” Her experience stands as a testament to the profound impact of LOLC Cambodia’s support in turning aspirations into reality and nurturing successful business.
Mrs. Pum Sros shares her experience of managing and expanding two businesses successfully
While reviewing sales records with her husband, Mrs. Pum Sros, a grocery seller, and laundress in Siem Reap, shared significant insights about her business journey with the LOLC team. Initially, at first, she only sold a few groceries. However, recognizing the opportunity to better serve her customers and boost her income, she made the decision to seek a loan from LOLC Cambodia.
She said with confidence that the capital from LOLC Cambodia loans had a significant impact on the growth of her business. She revealed that she utilized up to three loan cycles to expand her operations, purchasing more items to wholesale to small and medium-sized vendors in the community and buying washing machines for her new laundry business.
Through this business expansion, she has more regular customers, both wholesale and retail, which has greatly increased her income. The right financial decision gave her more capital to run the business, which helped her earn more money to better support her family.
After years of skill development, Mr. Sok Tina eventually reaches a point where he can start his own business. He aims to find a reliable financial partner to help grow the business and increase incomes.
In Rumchek Village, Rottanak Commune, Battambang District, Battambang Province, is where Mr. Sok Tina works as an auto mechanic. He's been involved in this business for three years, having started this career as an apprentice in a garage with many years of experiences, he tried to grow his skills and expertise in this business until he became strong enough to start his own vehicle repair garage with some of his own capital.
Although he started his own business, his dream did not stop there; he wanted to expand this business even more to attract customers and increase income. He chose LOLC as a financial partner to provide additional capital for business expansion. He has taken out loans for three cycles in a row from 2019 to present.
He described his experience in using the loans to expand his business with a smile and stated that the LOLC loan has indeed contributed to the growth of his business, which has enabled him to increase his income and sustain his family's life.
Managing two businesses at the same time is not a problem for Mrs. Son Noy because she has a strong financial partner.
Mrs. Son Noy lives in Ou Da Village in Phlov Meas Commune, Rotonak Mondol District, Battambang Province. She is a wise woman who used LOLC loan as capital to successfully expand two businesses at the same time. Her two businesses are selling groceries and farming.
Obviously, success does not come by chance. After carefully thinking and planning a business expansion plan, she decided to take the next step by choosing a strong financial partner who could support her on this planned journey. She also stated that the financial partner she chose was LOLC. After using the LOLC loan to expand her grocery store and cultivation, she was able to generate more income from both businesses, allowing her to increase her inventory for sale and extend cultivation by purchasing an additional 5 hectares of land.
She thanked LOLC Cambodia for providing the loan to capitalize, expand her business, and help improve her family's livelihood.
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