I have raised my own livestock of cattle in order to increase my family income. Now, my husband and I want to buy one more cow but we don't have enough capital …
Loan amount €2,380
by 40 members
Disbursement date: 03/01/2017
Final repayment of the loan: 03/01/2019
|MicroWorld's investors have funded:||€2,380|
Ouk Nget - Purchase cows
I have raised my own livestock of cattle in order to increase my family income. Now, my husband and I want to buy one more cow but we don't have enough capital to purchase it. Therefore, I decide to ask for a loan from SAMIC. Beside of purchasing a cow, I have planned to take the rest of this money to open a small business selling some groceries at home in order to increase my income and to be able to send my children to school. I hope my children will have a good future.
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.
- Read the model of loan agreement
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|