Sok Ny

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

Sok Ny lives in Prey Veng Province about 62 miles southeast of the Capital Phnom Penh with two of her four children. She took a loan out of $1,000 which was dispersed on July 12, 2008 to add items to her inventory to meet her customer’s demands. With the loan she purchased more items for her store and fixed her store. Sok Ny says her business has increased with the expansion. She currently can not tell how much her business has increased, and will know once she has paid her loan off, and as time goes on, but she knows that the number of customers has increased. She says her most popular item is gasoline.

Sok Ny heard about CREDIT through a promotion in her village and brochures. This is the first time she has taken out a loan, and has been very pleased with the friendly, quality services she has received from CREDIT. She has faced very few difficulties in running her business and is currently paying her loan on time. She says that the loan has made her life easier even though she has the expense of repayment of her loan.

Sok Ny would like to see her business grow, but she currently has no plan to take out another loan. She is eager to pay her current loan off and will decide at that point if she will request another loan. She is currently on her fourth month of repayment of her 18 month repayment schedule.

Thank you so much for helping support Sok Ny and her family through your loan. CREDIT appreciates your financial and social investment. CREDIT looks forward to partnering with you again in the future enabling them to continually provide quality financial services to Cambodia’s small business entrepreneurs.

Sok Ny, 41, is a widow who lives in Prey Veng, Cambodia with two of her four children. Sok sells a variety of soft drinks in the village, and at the time she received her loan, was making $3 a day. Sok requested this loan to add to her inventory.

A CREDIT MFI loan officer recently visited Sok to check on her progress. After receiving her loan, Sok used the money to diversify the items she sells. As a result, she has many more customers before, and her income has risen significantly. She spends the extra money on adding to her inventory, better food, clothes, and educating her children.

Business is not always easy, and Sok says that sometimes she must take a loss because the price of goods fluctuate wildly. Still, she is optimistic and hopes to open a store where she can sell her groceries.