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.
Mr. Leang Panha has raised his family's standard of living by utilizing LOLC Cambodia's loans to grow businesses
Mr. Leang Panha works as a tricycle repairman in Damnak Thom 3 Village, Sangkat Stung Meanchey 3, Khan Meanchey, Phnom Penh, while his spouse sells groceries.
He has a great deal of responsibility as a husband and father because he has improved the quality of life for his family. He used a LOLC Cambodia loan to purchase a house for his wife and child after living in a rented house for several years. Furthermore, he used another loan to purchase spare parts for repairing tricycles and extra goods for his wife's business, allowing both businesses to grow in size and potential.
His family's income naturally increased dramatically after both of them established successful businesses, in particular they owned a house. He declared, "I am honored to be associated with LOLC Cambodia, which has given us loans to grow our businesses and improve our standard of living.”
Mrs. Try Muyleng and her husband used loans to grow their business and improve their quality of life
"Thanks to LOLC Cambodia for providing me loans for business expansions and improve our home by making it bigger and more comfortable." Mrs. Try Muyleng said.
Mrs. Try Muyleng is a hairdresser, and her husband is a welder in Damnak Chambak Village, Samraong Leu Commune, Banteay Meas District, Kampot Province. At first, she and her husband only wanted to improve their home, so they chose LOLC Cambodia’s loan for the home renovation purpose. Then, after realizing the convenience of using loan products and services which are suitable for them as well, she decided applying for two more loans to expand her business and her husband’s by purchasing more steel for her husband's business and additional salon equipment for her own business to increase good services for her customers.
Of course, the income of Mrs. Muyleng and her husband increased significantly through the growth of their business. This demonstrates the use of loans in right purpose which align with LOLC Cambodia's mission to create positive outcomes for its customers through its products and services.
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