Ms. Nhem Choeun using LOLC Cambodia Loans to boost sales and improve family life
Ms. Nhem Choeun living in Kanhchum Village, Kanhchum Commune, Peam Reang District, Prey Veng Province, has always dreamed of expanding her business to meet the growing demand of customers, but the challenge is the lack of capital. After getting to know LOLC Cambodia, a financial institution that offers a wide range of loans, especially small business loan, Ms. Nhem Choeun applied for a loan by showing a clear plan relates to current and future income-expenditure situations. After receiving the loan, she allocated some money to set up an attractive store and some to buy more goods for sale to meet the needs of customers. As of now, she has used 2 loan cycles with LOLC Cambodia.
Through smart investment, high commitment, honesty, and enough capital support from LOLC Cambodia lead the number of clients has steadily increased and at the same time, her income has also increased. As a result, Choeun’s business is constantly growing and able to repay the loan regularly and even start saving for future plans.
"When we have a clear plan, honesty and hard work, our business has a high chance of success, moreover, when we have good loan repayment history, the next loan application is also easy to get approval from financial institutions for further support our business." she added.
Mr. Khuk Chetra used LOLC Cambodia’s loan to expand plantations, increase income, and improve quality of life
While inspecting the quality of rubber, Mr. Khuk Chetra, a rubber plantation farmer in Leach Krom Village, Choam Commune, Memot district, Tbong Khmum Province, described with pleasure that he previously farmed only 2 hectares, but now the scope of cultivation has expanded to more than 3 hectares. As the size of the plantation has a great extent, the yield of his rubber increased, which increased his income, and improved his livelihood.
Obviously, the LOLC Cambodia’s loan really contributed to improving his livelihood. He stated that he used the loan to capitalize on the expansion of his farm by purchasing additional land for planting. This is a reason why he can earn a high income and have a current prosperous life.
Finally, he expressed his heartfelt gratitude that "Thank to LOLC for providing me a loan to buy land, to expand the cultivation and improve my life."
Mrs. Nut Sokhai has improved her business and family’s livelihood by using LOLC Cambodia’s loans with her good cooking
With a smiling and friendly face, Mrs. Nut Sokhai narrated her journey of business growth with the financial support from LOLC Cambodia. Before having current business, she always made long travelling to deliver goods to sell at Phnom Penh which could earn a tiny income only.
Later on, she ran a restaurant, selling soup and food at Chroy Sleng Village, Kiri Chong Kaoh Commune, Kiri Vong District, Takeo province. In 2017, she started using the first loan from LOLC Cambodia for her new business development. Currently, she uses up to four loan cycles to support the growth of her business. Besides the capital to strengthen and expand the business, she also uses loans for other purposes to improve homes and purchase a motorcycle for family use.
With good cooking and right purpose of using loans, she could improve her business and family’s living standard since there are many customers support her restaurant now.
Ms. Kao Sary Generating additional income through the official loan service from LOLC is an option that prospers my family
Ms. Kao Sary has been weaving basket for sale for more than 10 years and has continued until today. In addition to basket weaving for sale, she also has three other main sources of income, including self-employed grocery store, fish net weaving for sale by her husband, and motorcycle repairer by her son. She and her family have an address, located in Svay Paem Village, Boeung Sala Khang Tboung Commune, Kampong Trach District, Kampot Province.
“My first loan was requested in 2017 in an amount of 750 USD. Because of business growth and regular repayment, I have continuouly expanded the business by requesting more capital support from LOLC up until today.” In addition, through financial support from LOLC, I was able to renovate my kitchen as well as my entire home, according to Ms. Sary.
She added, “LOLC loans were crucial to transform her family’s living standard to be as good as it was today. Aside from fast service and reasonable interest rates, LOLC has provided great financial knowledge to me as well as other clients in my neighborhood.
Mr. Hee Chanthou Chanthou is an egg seller at Baek Chan Market in Kandal Province
Chanthou is an egg seller at Baek Chan Market in Kandal Province. He has been running his business for over 8 years.
With a fresh smile, Chanthou shared his journey of business growth and financial solution from LOLC Cambodia “at that time I was facing a capital challenge that brought me to LOLC Cambodia for financial solution support after received recommendation from my relative. With LOLC Loans, I could be able to expand my sales to meet a big demand of customer”.
Today, the income from the growth of his business not only can support the family, but also can save some money, as well as renovate his house and support the children’s education. He mentioned that loans from LOLC Cambodia strengthened his business which enabled him to have a better living.
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