Mr. Horn Nom’s agricultural output and revenue have increased substantially after properly utilized the loan for the right purpose
Mr. Horn Nom is a pepper and cassava farmer in Pu Kraeng Village, Srae Ampum Commune, Pech Chreada District, Mondul Kiri Province. He has been in this business for 10 years. The income from the sale of his crops was enough to support his family, but he did not have much money left over to save.
He understood how to increase the income from his crops. He strengthened the cultivation to increase the yield for higher sales and decided to apply for a loan from the LOLC as additional capital. With financial support, he confidently increased his crop yields. The yield on both of his farms improved substantially as expected, thanks to the contribution of LOLC loan which he has applied for up to three cycles.
His family's life is improved, and he becomes more prosperous because of his efforts, clear thinking, and proper use of loans.
Mrs. So Bulen believes in LOLC's vision of using loans to boost business success
Mrs. So Bulen, a successful client of LOLC, has been operating a tractor spare parts business for 9 years in Battambang Province's Anlok Kaong Village, Chheu Teal Commune, Banan District.
Believing in the quality of products and services, and LOLC’s vision, she joined LOLC in 2019 to expand her business. She began utilizing loans from LOLC in 2019 to expand her business. She used the loan to purchase tractor spare parts for sale, which was her main source of income, as well as to build a birdhouse and cultivate land for crop growth.
Her income demonstrates the steady growth of her business and provides an example of responsible loan use. Additionally, she can improve and expand the house.
Mr. Vet Ra's decision to seize the opportunity to start his own business led to a steady improvement in his family life
Meet Mr. Vet Ra; he is a motorcycle mechanic in Ou Svay Village, Ou Svay Commune, Trapeang Prasat District, Oddar Meanchey Province. In addition, he also does the arming seasonally. He recalled that he previously did not have a real job and had to stay with his parents. He thought this was a burden and a nuisance for his parents.
For this reason, he decided to utilize a loan product from LOLC to secure capital for launching his own business. He used the first loan in 2021 to open a motorcycle repair stall and continued to use the second one to expand the business even bigger by building a new stall and purchasing more materials to improve a better service for customers.
He expressed his joy after seeing his business grow, and his living standard has been better than before, especially since he had his own business that could earn much more daily. In addition, he was able to buy more land for farming.
Mrs. Tem Phun made the right decision to use loans to change her destiny and grow her business
Mrs. Tem Phun is a businesswoman in Pong Tuek Village, Prey Rumdeng Commune, Mesang Ddistrict, Prey Veng province. She described that when she started her own business, she had very little capital, and the factors that motivated her to decide to take out a loan from LOLC Cambodia were the reasonable interest rate and confidence in LOLC. She has already used three loan cycles since LOLC Cambodia was Thaneakea Phum to expand her current business.
Her business has now grown from a family business to a large one, with wholesale in the area. She shared that before becoming a successful businesswoman, she was a garment worker with a low monthly salary, but now she has her own strong and thriving business. This is due to the right decision to use LOLC Cambodia’s loans to expand the business, which means she can earn much more; it can be compared to the fact that her current daily income is equivalent to her monthly salary as a garment worker.
This progress made her able to complete the construction of her house completely and neatly prepared. In particular, she has become an influential person because she has a big business, combined with good communication and friendliness to customers.
Mr. Maong Sokha uses loans for the right purpose of improving living standards
Mr. Maong Sokha is a motorcycle mechanic in Svay Village, Svay Pou Commune, Srei Santhor District, Kampong Cham Province. In the interview with a LOLC Cambodia officer, he expressed his happiness and pride in his current life that he has a strong and prosperous business which is the source of income and living in a comfortable new house.
He narrated that his current better livelihood and thriving business did not grow on their own, but it was a hard effort and careful decision with the financial support of the LOLC Cambodia loan. He added that he used four loans to improve the living standard of the family by using them to repair a bathroom, build a new house and expand his business to forward as current success.
Finally, he revealed that the daily income from his business growth has doubled, which has improved his family's living conditions.
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