Nora (in the photo), age 21, is single, and lives with her parents and sister and brother in Phnom Penh suburb.
Nora is now in her third year of her university in Phnom Penh, majoring in management. She wants to study more English, so she applied for her first Kiva loan in the amount of $900 to pay for her English language university fees.
With English language university, Nora will study for five years. Hence, she will use money from the loan to pay for whole five years.
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 Microfinance Plc 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.