Sothea, 29, greeted us in front of her grocery store the other day. She motioned to us to sit down on the ubiquitous bamboo wood platform that everyone uses here. We began asking her about her life, family and the effects of her loan between transactions with customers.
Sothea's loan of $700 is being repaid on schedule as of November. This is the second time she has taken out a loan through Maxima Mikroheranhvatho Co., Ltd. here in Cambodia. Previously, she had been borrowing money from a local bank but switched because it was time-consuming to go to Phnom Penh to make payments. She is very happy now borrowing through Maxima as they make house call's to collect the monthly payments. This has been an invaluable time-saver for her so that she can stay home taking care of the family and business. This new loan, funded through Kiva, has enabled Sothea to purchase additional items for her small grocery store as well as ice for her husband's delivery business.
They began the ice delivery business over six years ago and it's been great for them. Sothea's husband drives a small truck, which he loads with ice (80 blocks) bought from a neighboring village for 1,500 Riel (38 cents) each. He returns to their village, first stocking the supply at Sothea's market before driving around the village for prospective customers. He resells each block for 2,500 Riel (63 cents). It's like an ice cream truck without the cream. Right now, business is good as they have no competitors. It was this income that allowed them to open the grocery store three years ago.
In the future, Sothea hopes that they will be able to borrow again to continue expanding both their businesses. She plans to begin stocking beer and rice wine as they are higher profit items. If business continues to prosper, she feels confident that they will be able to provide a good education for their two children so that they have the opportunity to be whatever they want. (Photo: Sothea with daughter)
MAXIMA Mikroheranhvatho Co., Ltd.
Posted by Tami Rowan from Khsach Kandal district, Cambodia
Nov 7, 2007
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