Ngheam Phun

Thank you for your loan. It has been disbursed to Ngheam Phun by CREDIT MFI -- World Relief in Cambodia. We are excited to watch this business grow. Over the next 12 - 18 months, CREDIT MFI -- World Relief will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Ngheam Phun first heard about Credit’s low interest from a loan officer who visited her village. She decided to ask for a loan because the interest rate of 2.5% per month is not very high and CREDIT provides a long loan term that she can afford. She took out a loan of US$500 to purchase a motorbike for her family transportation. The motorbike helps to reduce the daily transportation that her and her husband spends everyday on a motor-taxi. Currently, both husband and wife earn a combine around US$5.5 each day. Inflation is one of the main factors that contribute her family earn less. The domestic price of rice and fertiliser has doubled over the past year, while the price of meat and fish has increased 30 to 60 percent, according to the government report lately. She spends about US$0.25 each child to go to school a day. She has no problems paying a loan back to Credit MFI and she has been very pleased with her decision and is grateful for the ability to better support her family.

Again, she states that the loan is very useful as it is provide a chance to all poor entrepreneurs to start and sustain their businesses. Finally, she would like to say thanks to all lenders for interest helping Cambodian entrepreneurs like her family.

CREDIT MFI is an independent Cambodian faith-based organization. It aims to empower the economically active poor and small entrepreneurs by providing inclusive financial services.