Phearann (pictured here), age 19, is single, and lives with his parents in a village approximately twenty kilometers from Phnom Penh City.
Phearann is now in his first semester and second year of his university in Phnom Penh, majoring in Banking and Finance. He will go to his second semester and second year of his university.
Hence, he requests a loan in the amount of $200 to pay for his second semester and second year of his university.
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.