Teap R., age 71, is a widow. She lives with her two children in Siem Reap province. To make a living, she has been selling food, mostly roasted chickens and beef, typically earning approximately US $20 per day. The family is also assisted by her two children who are now currently employed with a reasonable income to make a good living.
The financial crisis has been difficult for business in Cambodia this past year. This factor has played into a difficult economic year for much of the country, R. included. The country's economic struggles always seem to affect the poor the most. In light of the country's economic difficulties, R. is seeking to increase her income and improve her business. She is asking for a loan of US $800 to purchase construction materials in order to build and repair her house. She believes that she will be able to R. her current business at home when her home is convenient enough with the new construction plan she is going to invest in.
KREDIT Ltd. is one of Kiva’s most established partners in Southeast Asia. The organization empowers the economically-active poor and small entrepreneurs by providing inclusive financial services. Beyond loans, KREDIT offers low-income clients complementary training in debt management, savings and budgeting. In addition, KREDIT partners with NGOs to offer training in primary health care, agricultural techniques and HIV/AIDS awareness.
For more information on KREDIT, please visit its partner page. If you would like to engage more with KREDIT and its borrowers, you can also join its lending team, KREDIT MFI Cambodia.