Mrs. Sean Kimsan, a seller of men’s and women’s clothing and footwear in Takeo Province, shared her experiences before and after receiving a loan from LOLC.
"In the past, I lacked capital to run my business effectively, and my inventory was insufficient to meet customer demand," reflected Mrs. Sean Kimsan, a seller with over a decade of experience in selling men's and women's clothing and footwear in Takeo province.
One day, she decided to take the opportunity with financial partner, LOLC Cambodia, she applied for loans to expand her business and acquire additional market stalls.
After using the loan, she noticed a significant improvement and growth in both her personal life and her business. By using the loan wisely, she was able to enhance her lifestyle and increase her wealth.
With this improvement, she acquired four new stalls and expanded her inventory to include a wider variety of men's and women's clothing and shoes to sell. This expansion allowed her to better meet her customers' needs and even attract new customers continuously.
"The loan I received from LOLC has greatly improved my family's livelihood," she shared.
In order to pursue his dream of expanding his business to be more prosperous, Mr. Vong Bunthat chose to use a loan with LOLC to be a partner in investing in the business.
Meet Mr. Vong Bunthat, a dedicated farmer cultivating cashew, potato, and mushrooms in Ou Tevda Village, Kampong Damrei Commune, Chhloung District, Kratie Province, is determined to elevate his business to greater prosperity.
Despite facing financial constraints, a turning point emerged when Bunthat was introduced to LOLC Cambodia by his friend. Then Bunthat made the decision to seek a loan from LOLC Cambodia as his first step towards expanding his agriculture. This marked the commencement of an inspiring journey towards growth and success.
Bunthat and his wife utilized the initial loan to purchase farmland and expand their mushroom farm. The infusion of capital quickly led to a flourishing business, attracting a growing customer base. Encouraged by the success of their business growth, Bunthat approached LOLC Cambodia for additional financial support to further expand his enterprise. Securing two more loans, he was able to scale up his plantation and improve the quality of his crops.
Bunthat attributes a significant portion of his success to the unwavering support provided by LOLC Cambodia. He expresses profound gratitude for the financial assistance, which was accompanied by reasonable interest rates and convenient terms and conditions. Additionally, LOLC Cambodia equipped him with invaluable financial awareness on the appropriate use of loans and cautioning against resorting to informal lending sources or misusing borrowed funds. This financial education awareness has played a pivotal role in sustaining and expanding his business ventures while also contributing to enhancing his family’s overall financial security.
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.
#666B, Street 271, Kbal Tumnub Muoy Village, Sangkat Boeng Tumpun 2, Khan Mean Chey, Phnom Penh, Cambodia.
Information Security
