Loan Amount: US$1,000
Loan Term: 20 months
Description of business plan: Mr. Chhum Pon, 46, and his wife, Nhem Phanny, have been married since 1983. They have five children, ages 8-25. Now, only the youngest daughter still lives at home and attends the local primary school. The rest are grown and married. Pon opened his business for repairing motos and bicycles two years ago. He later added a new service for moto spray-washing to increase profits. Phanny works tending her jasmine plants and also buys flowers from her neighbors to resell at the larger district market. She helped her family grow jasmine even as a girl, and has had her additional business of reselling for two years now. Prior to this, they were both vegetable farmers and rented their farm land from a neighbor. When he sold the land, Pon and Phanny were forced to find new work to support their family.
Pon is requesting his first loan from MAXIMA in the amount of $1,000. He will use this loan to purchase a water pump to more easily fill his tanks used for spray-washing from the river 200m behind their home. A portion of the loan will also be used to purchase parts for bicycle and moto repair. Additionally, Phanny will us this loan to purchase a 1-season contract for jasmine flowers. This contract will entitle her to care for her neighbors jasmine plants and pick an unlimited amount of flowers to sell, giving the family a stable income for many months to come. (Photo: Pon in front of water tanks)
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