Mrs. Y. Sann, 49, and her husband, Mr. Phen Mao, 50, live along the Tonle Basac River, a tributary of the nearby Mekong River, about 15 kilometers from Phnom Penh. They have been married since 1980 and have five children, three sons and two daughters. Two of their sons are in college.
Y. has run beauty salon at her house for 3 years and her daughters assist her in the business. Mr. Phen Mao is a farmer. He grows jasmine and many kinds of flowers. Y. doesn’t have enough materials to operate her business, so she is asking for her first loan of $1,000 to buy more materials for her beauty salon and to use as capital for her husband’s farming business.
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.