Huo Phala

Status: Paid Back

$1,000.00		Loan Request
$1,000.00		Paid Back

About the Entrepreneur

Name:	Huo Phala
Location:	Phnom Penh City, Cambodia
Activity:	Grocery Store

About the Loan

Loan Amount:	$1,000.00
Loan Use:	To buy grocery products
Repayment Term:	20 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	N/A
Date Listed:	Apr 12, 2007
Date Disbursed:	Apr 27, 2007
Date Funded:	Apr 13, 2007
Loan Ended:	Oct 18, 2008

About the Field Partner

Field Partner:

CREDIT, a partner of World Relief

Field Partner Risk Rating:

(Learn more)

Active

42 months

4814

$3,619,450

0.00%

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Cambodia
Avg Annual Income:	$2,600.00
Currency:	United States Dollars (USD)

Huo Phala is 41 years old and lives in Phnom Penh with her husband and their 2 children. Her husband is a police officer and earns $4 per day. Her 2 young children are currently attending school. Huo Phala runs a small grocery store and also buys rice in bulk to sell to local restaurants for retail. She will use this loan to buy more groceries, as her business is doing very well. She is confident that she will be able to sell these extra products, earn extra income, and make her living standard better. In the future, she wants to continue growing her business so that she can send her children to University and so that she can make her home bigger and more beautiful.

Lenders to this entrepreneur

jao
Minnetonka, MN
United States

Jan and Leo
Indianapolis, IN
United States

Anonymous
new york, NY
United States

John
North Caldwell, NJ
United States

jan en yingying
Houston, TX
United States

Polly Anna
Muskegon, MI
United States

Nij & Sutee
Ithaca, NY
United States

John Michael
San Francisco, CA
United States

Robert
oak park, IL
United States

Charles
Austin, TX
United States

Shravan
Hudson, NH
United States

DaveD
Golden, CO
United States

Asan G Tejwani
Memphis, TN
United States

Chris
Atlanta, GA
United States

Peter
Portland, OR
United States

kristi and Jeff
Issaquah, WA
United States

Charles
Richmond, CA
United States

Sharon and Lynn
Oklahoma City, OK
United States

Anonymous
Oslo, Oslo
Norway

George and Patricia
Grants Pass, OR
United States

Emo
NYC, NY
United States

Ray
Woodridge, IL
United States

Journal entries for Huo Phala

Loan has been disbursed Entrepreneur: Huo Phala Location: Phnom Penh City, Cambodia Thank you for your loan. It has been disbursed to Huo Phala by CREDIT MFI -- World Relief in Cambodia. We are excited to watch this business grow. Over the next 18 - 18 months, CREDIT MFI -- World Relief will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by Nick Lazos from Phnom Penh City, Cambodia Apr 14, 2007
Comments (3)

Successful business expansion! Entrepreneur: Huo Phala Location: Phnom Penh City, Cambodia Mrs. Huo Phala has used her Kiva-funded loan to purchase more grocery products to meet customer demand. The expansion of inventory is shown in the attached photograph. By meeting her customers' demands for new products, she can now make $20-25 per day in revenue, which is a great increase from her revenue before the loan. Both her children are students and the additional income will help support their education. She learned about CREDIT MFI’s low interest loans from her neighbor. She has had no trouble paying back the loan at an interest rate of 2.5% per month. She previously borrowed funds from another financial institution and paid 4% per month. In the future she will take out another loan through CREDIT MFI to further expand her business to meet customer demand.
Posted by Jordyan Edmiston from Phnom Penh City, Cambodia Jan 2, 2008
Comment on this entry

Repayment Schedule for Huo Phala

Show Advanced

	Expected Repayments	Actual Repayments	Comments
July 2007	$55.56	$0.00	Repayment Received
August 2007	$55.56	$0.00	Repayment Received
September 2007	$55.56	$168.00	Repayment Received
October 2007	$55.56	$56.00	Repayment Received
November 2007	$55.56	$56.00	Repayment Received
December 2007	$55.56	$56.00	Repayment Received
January 2008	$55.56	$56.00	Repayment Received
February 2008	$55.56	$56.00	Repayment Received
March 2008	$55.56	$56.00	Repayment Received
April 2008	$55.56	$56.00	Repayment Received
May 2008	$55.56	$56.00	Repayment Received
June 2008	$55.56	$56.00	Repayment Received
July 2008	$55.56	$56.00	Repayment Received
August 2008	$55.56	$56.00	Repayment Received
September 2008	$55.56	$56.00	Repayment Received
October 2008	$55.56	$56.00	Repayment Received
November 2008	$55.56	$56.00	Repayment Received
December 2008	$55.48	$48.00	Repayment Received