Saravuth (in the photo), age 21, is single and an English student at the Institute of Foreign Language in Phnom Penh. In addition, he is also an English teacher for a private school.
Saravuth lives with his parents and brother and sister in a village approximately twelve kilometers from Phnom Penh City.
He is now in his third year and first semester of his degree. He will finish the first semester and start the second semester of his third year soon.
Hence, Saravuth decided to apply for Kiva loan in the amount of $500 to pay for his English school fees.
More information about this loan
This loan is part of Maxima's new higher education program designed to increase access to college degrees for students from low-income families. This is a new initiative for Maxima, developed with technical assistance from Vittana, another Kiva partner focused on student loans. By making education more affordable, this loan program is well-positioned to help young people lift themselves out of poverty and start creating change for their families and communities.
MAXIMA Mikroheranhvatho is a Cambodian microfinance institution founded in 2000 to help low-income rural and urban people and small- to medium-sized businesses (SMEs) access financial services. Sustainable access to credit helps to create jobs and enables business owners improve their living conditions, educate their children, provide health care to their families, and more. It also enables the rural poor to remain at home with their families, rather than moving to city centers in search of employment.