My husband is responsible for working on our field while I am responsible for raising chicken and ducks at home. Now, for growing well and increase the producti…
Loan amount €2,300
by 35 members
Disbursement date: 03/01/2017
Final repayment of the loan: 03/01/2019
|ENGIE by MicroWorld's investors have funded:||€2,300|
Mao Chheun - Purchase land
My husband is responsible for working on our field while I am responsible for raising chicken and ducks at home. Now, for growing well and increase the productivity of rice output, my husband and me would like to purchase a farm land near our house at a lower price, so it is a good chance for me to buy it. I don't have enought money, so I need to request a loan from SAMIC MFI. With this loan, I will buy the farm land on time and one more ox. I hope that from now on, my family will earn money from the rice field, and this will improve our living conditions.
Economic and social context
|GNI per capita||750 USD|
|Poverty rate (below national poverty line)||30.1%|
|Literacy rate (above 15 years of age)||78%|
|Life expectancy||63 years|
Rates and transparency
- This loan is at 0% and does not pay any interest to the lender.
- The MFI will reimburse the lender in case of default of the entrepreneur but there is no guarantee or insurance given by the MFI.
- 100% of the money collected is sent to the MFI, even if the project is not fully funded on the site.
- The MFI then makes a loan to the micro-entrepreneur and charges an interest rate in order to cover its operational and financial costs.
- The platform earns a commission from the MFI for the service it provides, which helps to fund its running costs.
- More effective than a simple donation, micro-credit promotes long-term sustainable economic development rather than short term help.
SAMIC is a licensed MFI that serves over 16,500 clients in urban and rural areas through both group and individual loan products, as well as being one of the few MFIs to offer microinsurance. Started as the credit programme of health NGO, SAMIC became a separate organization in 2005. With a committed staff of 171, strong shareholders, and an experienced management team, SAMIC is aiming to expand its reach to new clients and further its vision of improving the living conditions of the poor in Cambodia.
|Legal Status||NBFI (Non Bank Financial Institution)|
|Number of Borrowers||20,597|
|PAR (Portfolio at Risk)||0.91%|
|R.O.A (Return on Assets)||4.65%|
|Average loan /GNI per capita||88.5%|
|Percentage of women borrowers||81%|
|Saving accounts opened||No (legal status)|
|Collaterals required||Only partially for group loans|
|Early repayment/administrative fees||None|
|Interest rate charge methodology||Declining balance|