Mork Khin

Thank you for your loan. It has been disbursed to Mork Khin by MAXIMA Mikroheranhvatho Co., Ltd. in Cambodia. We are excited to watch this business grow. Over the next 12 months, MAXIMA Mikroheranhvatho Co., Ltd. will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Mrs. Mork has been weaving since 2000 after she has learned the skill from her neighbor. Her husband grows rice and raise cattle. In November, 2007 she applied for a loan of $500 to purchase silk material and sewing thread and to pay fees for selecting and preparing silk on the loom.

After receiving loan, Mork has enough cash to buy silk material and sewing thread which is cheaper than in credit. So, the cost of production is lower than before. In addition, Mork is able to sell her finished product to any middleman who asks for higher price.

Before Micro Finance Institution presented in the area where Mork is living; most weavers did not have their own money to buy silk. So, they are all buy silk in credit from a middleman and promise to sell the finished product to the same middleman. The middlemen charged higher price though and the finished product of silk was bough lower than market price. The cost of silk per Kaly, 2 kilograms, costs about $55-$58 when it sells on credit, but it is decreased to $49-$50 when it is sold in cash. Meanwhile, the weavers who have enough cash to buy silk material, they have free choice to chose any middleman who willing to ask for higher price or they can go to the market to sell by their own.

The selling price of silk product is according to the season it always increases three or four months before Khmer New Year which celebrated in April every year.

Therefore, Mork is able to make more profit margins when she borrows a loan to buy silk. The income from silk is used to pay for all the family activities such as food, rice, clothes and joining a special event like wedding day, funeral and religious ceremony…etc. Mork’s payment is on schedule as in June, 2007.

Mrs. Mork Khin has enough money to pay off her loan. After receiving loan, we can see that her living standard is getting better than before loan. She has enough money to generate her business and get more profit. She and her husband would like to say thank you to all lenders that give them the good chance.