Mr. Lieu Taily planting garlic chives and longan
Mr. Lieu Taily, a 63-year-old farmer in Svay Pum Trang village, Koh Anlong Chen commune, Takhmao City, Kandal province, said that before using loans from LOLC Cambodia, he also learned about the loan conditions of other financial institutions, to apply for a loan to expand his business, planting garlic chives and longan. However, after getting to know LOLC Cambodia through the introduction from the local authority, he noticed that the features of LOLC Cambodia Loan are much better,
especially the low-interest rate and the service provided by the staff was professional and fast. As a result, he decided to take a loan from LOLC Cambodia at that time. With the loan features that meet the needs of the business, making his family’s lives better through the increase of his income. Seeing opportunities to further expand his sources of income, Mr. Lieu Taily applied for an additional loan, allocating some of the money to develop his farmland and the rest for house renovation. As of 2023, he has a total of three loan cycles with LOLC Cambodia, while the third loan is used to buy more lands and expand the plantation. Mr. Lieu Taily said that he was very satisfied with the LOLC Cambodia loan because through this loan service his life has improved a lot, especially he can expand his farm land.
Mr. Sam Sokuy, working as a mechanic
Mr. Sam Sokuy, a 45-year-old motor and car mechanic, and his wife, a tailor, reside in Chhnal Moan village, Chhnal Moan commune, Koas Krala district, Battambang province. According to Mr. Sokuy, he has been working as a mechanic for four years, while his wife has been running her tailoring business. However, their businesses did not grow due to a lack of funds to improve their existing businesses. After getting information of LOLC from his relatives, Sokuy and his wife decided to apply for their first loan in 2021.
They used the loan to purchase spare parts for repairing motorcycles and cars, as well as fabric for Nub Sunan’s business. The loan helped them meet the demand from customers, and they applied for a second loan at the end of 2022
to buy more sewing machines. Now, both of their businesses have grown significantly because there are enough fabrics and materials to meet the needs of customers and all kinds of spare parts for repairing motorcycles and heavy vehicles, which can increase their income and make his family life better. Sokuy said, "The loan from LOLC has really improved my family's life and I believe that I will be able to support my four children to get a good education."
Mrs. Nun Vandy
Mrs. Vandy, 52 years old, is living in Chrey Pir Village, Chrey Commune, Moung Ruessei District, Battambang Province. Vandy has 2 children; Vandy is a groceries seller, food seller and a farmer. As of now she has run her business for 30 years.
With a smiley face, Vandy said that before receiving the loan from LOLC, she did not have enough capital to expand her existing businesses, despite knowing that the market was in high demand. As a result, she decided to request a loan from LOLC to meet the needs and seize the opportunity to expand the business. She received her first loan from LOLC in 2018 and decided to take out her second, third and fourth loans to expand the businesses as mentioned above.
Through the bigger growth of the business from time to time, Vandy is able to generate more income to support her family, child's education, and also house renovation.
Vandy said, when we borrow money to do business, we have to pay some interest, but if we wait to have enough money, it will take time to wait and may lose good opportunities for some businesses. But the important thing is we need to have a proper plan and strong commitment to ourselves that the money we bring is to generate more income through the business opportunity which is bigger than the cost of loan repayment.
"I am very grateful to LOLC for providing an excellent source of capital to support my business to grow as it is today," she added.
Mr. Eav Im Grocery Selling and farmers
Mr. Eav Im, 44 years old, and spouse, lives in Dey Lo village, Chey Udom commune, Lumphat district, Ratanakkiri province. They have been in the business of selling groceries for nine years. In addition to grocery selling, they are also cassava and cashew farmers. Mr. Eav Im and Ms. Pha Phok have two children; the first child is a motorcycle mechanic, and the other one is a secondary school student. Mr. Eav Im said, he knew LOLC through his neighbor and was quite interested at that
time. Later, when the LOLC Financial Sales Advisors came to promote his village, he asked for more detailed information and more understanding about the loan feature and decided to apply for the loans from the LOLC. As of now, he has applied for up to three consecutive loan cycles from LOLC, which all the requests were at the same purpose, expanding cultivation by purchasing additional land to grow cashews and cassava in addition to his existing business. After expanding the cultivation of cashew and cassava plantations to a larger extent, post-harvest yields increased significantly, and his crops continued to be sold to brokers who came to collect from the plantation field. By now, the living condition of his family is much better because his income from selling crops has doubled. Mr. Eav Im expressed his gratitude to LOLC for taking care of their clients, especially himself, that receiving consultant on how to strengthen and expand the business to sustainable grow.
Mrs.Thorn Sopheavan, Small Coffee Shop Owner
“Thanks to LOLC loan, I have enough capital to start a new business, and money for my son go to school regularly,” Thorn Sopheavan described the changes in her family’s life since accessing LOLC loan in 2016.
Sopheavan lives in Wat Kandal village, Reang Kesei commune, Sangke district, Battambang province, she was a farmer to feed her family before approaching LOLC. “In the past, I could not support my family well since I could generate only USD 200 a month from our farming,” said 37-year-old Sopheavan.
Strongly wanting to move out of difficulty, Sopheavan and her husband, Chan Vutha, decided to approach LOLC to request a group loan of USD 375 to buy coffee shop items to set up a small coffee shop. Although it was not that big, this business was the turning point for their life to be better. Then she requested for second group loan was USD 500 in 2017 and third group loan of USD 2,000 in 2022 to buy more items to support her coffee shop business and to sell more foods.
I can earn around USD 500 per month, and I am very happy and strongly believe that the loan from LOLC is really improving my family's life”.
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