Every year, I have grown the rice production one time per year but I need more cows for the agriculture site. I have used the source of my saving from my grocer…
Loan amount €720
by 6 members
Only 26 days
to finance: €440
Oem Mey - Purchase cows
Every year, I have grown the rice production one time per year but I need more cows for the agriculture site. I have used the source of my saving from my groceries sales but I still not have enough capital to purchase a cow, so now I need to ask a loan from SAMIC MFI. I will use the money into my groceries sales and the agriculture site, and this can increase the income of my family.
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|