Mao C., age 61, is a widower and has five children. He lives with his children in Phnom Penh City. To make a living, he works for a poor community, earning approximately US$4 per day. The family is also assisted by Chea Mariya, one of his children, who runs a business in front of her house with her husband (pictured). Mariya's husband is a skillful mechanic, and he is able to generate an income of US$10 per day.
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, Cheab included. The country's economic struggles always seem to affect the poor the most.
In light of the country's economic difficulties, Cheab is seeking to increase his income. He is asking for a loan of US$1,000 to purchase motorbike spare parts for his son-in-law to expand his business. By doing so, he believes that his son-in-law will be able to raise a good standard of living for the family.
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.