A loan of $750 helped to buy a new, more reliable moto-taxi for his father.


Nut's story

Mr. Nut S. R. is 27 years old, and is single. He lives in Siem Reap province with his parents. He is an electrical repair man, and repairs televisions, radios, cassette and video players. He received training as an electrical repair man in school, and once he finished school he decided to open an electrical repair shop in his area. He opened the shop because he noticed that there were no such shops in the area where he lived. He earns on average about $7 per day. His mother is a food vendor and sells rice and a variety of Khmer dishes at the market. His father is a motor-taxi driver. Mr. Nut S. R. contributes his income to the total household income of his parents. On average, monthly expenses run about $82 with about $37 for food, $20 for utilities, and $25 for transportation. Inflation has hit Cambodia though, at a rate of about 22% from when the last statistics were taken, increasing monthly expenses for many people in Cambodia. Mr. Nut S. R. is requesting his loan through Kiva’s field partner CREDIT – Micro Finance Institution. CREDIT-MFI has a repayment rate of 99.8% (taken from their 2007 Annual report). CREDIT – MFI structures their non-agriculture Kiva loans with a declining balance interest rate. Agriculture loans are structured as balloon repayments with monthly interest rate payments and principle repayments at the end of the loan after harvest.



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