Lophay is 54 years old and is a motorbike taxi driver who earns 5 USD daily. His wife is a gardener who earns 2 USD each day. The couple has four children, two of whom are studying and two who are working in Thailand, each earning 5 USD every day. Each month, Lophay has to spend 75 USD on rent, 3.5 USD on electricity, 25 USD on school fees, and 10 USD on other expenses.
Lophay is requesting a 1,000 USD loan to buy a new motorbike for his business as his current motorbike is old. In the future he has two plans: to buy a small car and continue his taxi service and to open a motorbike repair shop since he has some knowledge of engine repair.
KREDIT Microfinance Institution Plc., 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.