Human and Hope Association

Progress of our Microfinance Borrowers

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Written by San Thai, Community Manager

We have been running our Microfinance Program since December 2013. Our aim is to help the community members who lack of money to run a new business or to spread their existing businesses. Through this loan, we hope that it will help them with their needs for their businesses.

Currently, we have four successful borrowers who applied for our loan. Three of them borrowed money to spread their existing businesses and another one to spread the existing and to run a new business.

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Heab, 46, is a road side vendor (Khmer Dessert Seller). She is one of our first borrowers who applied for our loan. She has been running this business for three years. Her business has been improving from day to day and her customers are also increasing, so she really needs money to buy more materials in order to make more income on her business. After receiving our loan, she used to buy more stools, pans, bread and some ingredients. Now she has enough stools for her customers to sit and gets more income to support her family. She is our good borrower who always repay on time. She has already repaid loan for 33 weeks and she will be finished in 7 more weeks.

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Sophorn, 37, previously was a food seller on the street. She used our loan to buy more tables, rice and some more food. Her business was very good. She could earn a proper income every day, but unfortunately after receiving our loan about one month, she had to stop her business because she got sick and very tired. She had no one help her (she had to go to the market in the early morning and then cook food and stay at her shop until the evening). She decided to work as assistance at a restaurant in the town which gets $150 per month. She works less hours and not very tired as she owned her business. Although she stops owning her business but she still repays our loan with her new salary every week. She is also a good borrower which has good character and always repay on time. She has already repaid loan for 33 weeks and she will be finished in 7 more weeks the same as Heab.

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Sorphea, 25, is our third borrower who applied our loan to spread on her existing business. She is a florist. She used our loan to buy flowers to sell at the market. She sells two days a week and earns a very good profit. Through this loan, she can get more suppliers and gets more income. She has already repaid loan for 16 weeks. She is also a good borrower and character.

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*Pheaktra, 42, and his wife are our fourth borrowers who applied our loan to spread their existing business and to run a new business. They are our special borrowers who got our loan, as we see they really need money for their businesses. They have three different businesses. Their existing businesses are collecting the rubbishes and selling the bread on the street. They used our loan to buy more bread and ingredients and they start their new business on feeding ducks and chickens at home. After attending this program, Pheaktra has not only got the money for his businesses, but he got new ideas on his businesses and how to manage his money in a useful way. Before he never saves money properly and he drank alcohol a lot, but after attending Budget Training, he sees that he has made a big mistake with his family. So from now, he has committed to make his family better. He starts saving money in an effective way by making a big box and put his saving money in difference of important things of his life such as he saves for repaying loan, his children studying, Sickness, Social expenses, generous action donation and for his motor bike. Currently two of their children are studying at Human and Hope Association and another 4 years old son will attend preschool in the future when we move to the new location. They have already repaid loan for six weeks. They are very happy and full of hope when they get our loan.

“I never think about saving money before, but when I attended the Budget Training I see that saving money is very important of my life and my family and I will use this loan in an effective way”.

In overall, all borrowers are not only getting the money for their businesses but they also attended our Child Protection Workshop and Budget Training. After Workshop they have some knowledge on what are the rights of the child? What are the duties of parents? How can they protect child from any abuses? How can they manage their money? How can they use their money in useful? How they save their money? How they spend their money for? On the other hand their children are our target persons to encourage them to study too.

*This borrowers name has been changed for privacy purposes

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