I am very happy with my harvest this season. I will get a high yield but I still will not make much profit because I spent so much money in production costs. I ...
Raising cattle
Cambodia
Loan amount 400€
Funded 100%
by 12 members
Disbursment date to the MFI: 03/01/2012
Final repayment of the loan: 03/01/2013
| MicroWorld's investors have funded: | 400 € |
Chroep KET - Purchase cows
Borrower
Loan Request
Borrower Quote
I am very happy with my harvest this season. I will get a high yield but I still will not make much profit because I spent so much money in production costs. I had to rent my neighbor's ox to plough for me, as I don't have my own cattle. After this harvest I will use the money that I have saved and some money from Samic MFI to buy my own cattle. I hope that I won't need to spend so much money on production costs anymore. In the next season I hope to make a greater net profit.
Economic and social context
Cambodia
| Population | 14,138,255 |
| GNI per capita | 750 USD |
| Economic Growth | 6% |
| Poverty rate (below national poverty line) | 30.1% |
| Unemployment rate | 8,1% |
| Literacy rate (above 15 years of age) | 78% |
| Life expectancy | 62 years |
Rates and transparency
- This loan is at 0% and does not pay any interest to the lender.
- 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.
- MicroWorld 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.
The MFI
SAMIC
Summary
SAMIC is a licensed MFI that serves over 11,000 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 142, 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 | Licensed MFI |
| Number of borrowers | 10,410 |
| Gross Loan Portfolio | $ 6,056,460 |
| Average loan balance | $ 582 |
| Average interest rate for borrowers | 3% per month |
| Number of personnel | 141 |
| PAR (Portfolio at Risk) | 4.09% |
| Average loan /GNI per capita | 85% |
| Percentage of women borrowers | 82% |
| Saving accounts opened | No (legal status) |
| Collaterals required | Only partially for group loans |
| Early repayment/administrative fees | None |
| Insurance offered | Yes |
| Interest rate charge methodology | Declining balance |
| GIPSIE rating by PlaNis | 3.5/5 |
Investors on the project
More like this
LebanonServices
Amount to finance1160 €
Funded24 %
SenegalProduction
Amount to finance400 €
Funded0 %
- Senegal
Sales
Amount to finance620 €
Funded22 %
- Senegal
Sales
Amount to finance780 €
Funded0 %
