My husband is responsible for working on our field while I am responsible for raising pigs at home. My pigs are now growing well and soon I can sell them on the…
Loan amount €1,160
by 24 members
Disbursment date to the MFI: 03/01/2012
Final repayment of the loan: 03/01/2013
|MicroWorld's investors have funded:||€1,160|
Sokhun HEAN - Purchase cows
My husband is responsible for working on our field while I am responsible for raising pigs at home. My pigs are now growing well and soon I can sell them on the market. But now local villagers want to sell their oxen at a lower price because they have finished farming so it is a good chance for me to buy them. Every season I spend money on renting oxen from other people, but if I bought them I won't spend much so capital on farming anymore. I decided to ask Samic for some money. With this loan I will buy 2 oxen and 1 cow. I hope that from now on these oxen will earn money from renting them out and reduce my costs in production and make my family living conditions better.
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.
- 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.
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.
Previously known as CHC (Cambodian Health Committee), SAMIC was established in 1994 as the credit programme of CHC NGO, funded by Oxfam America. CHC was a charity organization that worked in rural health, focused primarily on the prevention of the spread of tuberculosis and AIDS in the community. The rural finance program was established in an attempt to alleviate local poverty levels, which has a negative effect on healthcare standards - people who lack basic food and shelter are far less inclined to worry about their health. The credit programme was separated from the healthcare NGO in 2005.
|Legal status||Licensed MFI|
|Number of borrowers||16,528|
|Gross Loan Portfolio||$8,711,886|
|Average loan balance||$527|
|Average interest rate for borrowers||2.63% per month|
|Number of personnel||181|
|PAR (Portfolio at Risk)||1.69%|
|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|