Increasing Quality of Life for Families through Microloans and Education |
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Newsletter, November, 2015 join our mailing list | |
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New Phnom Penh Clients
Over the last few months we've been busy moving our program to Cambodia's capital city, Phnom Penh. It's been a challenge, but now we are here. Our new loan officer, Um Norak, has in the past month found three more excellent clients. Here they are, with a comment from each of them: 1. Mrs. Chan Heap ($250 loan)

Mrs. Chan Heap ( Selling and make fried cake):
"I am happy to meet Mr. Norak to come visit me at cooking place. Now, I am frying the cake to get ready to sell to customers. This month, I could earn some money to make for our daily living in village area. I want to move business and make more profit in the future. Your program is helping my family to open place to cook for Cambodian cake. Our family is very please to have your loan so we can start a small business. We thank to MfM for providing the loan to my family. Without your assistant, I can not open my a small business. Thank you for you're the loan to help my family." ----------------------------------------------------------------
2. Mrs. Chea Sotheary ($150 loan) 
Mrs. Chea Sotheary (lunch counter):
"Today morning, Mr. Norak is visiting me at my small food serving area in my booth. I am happy to get the loan from your program; your contribution to my family is mean lots to my family. I am grateful to get the loan from MfM, without your loan, I can not start my small business. This month, I could earn some money to feed my family. Thank you for your program in Cambodia."
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3. Mrs. Hem Sothea ($100 loan)
Mrs. Hem Sothea (lunch counter):
"I am grateful for your program to provide the loan to my family. With your fund, I could make a small business and food serving area. I have some customers to eat at my place every morning so that I could earn money to take care my children as you see with this photos. I am happy for Mr. Norak to visit me this morning. Thank you for the loan to my family."
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Click here for a the printable monthly report
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Loan Officer, Um Norak
Our director, Suy Leang, has hired a new loan officer, Um Norak, who has extensive experience with other lending institutions. We're excited to have him on board.
Um Norak preparing loans in Phnom Penh
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Program Structure
The structure of our new program in Phnom Penh is designed for individual clients who receive their loan on a six month term. Before the loan is issued our loan officer and director conduct a thorough interview and background check. Loan installments are paid monthly based on a declining balance (interest of 15%). The installment is collected by the loan officer and transferred to our director who deposits the money into our MfM bank account. The bank deposit slip becomes part of the monthly report.
Bank deposit slip prepared by MfM director, Suy Leang
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Sanitation Projects
Since the start of our latrine project in July of 2013 word has spread in the community, and applications keep coming in. With the recent donation (by Letitia Ocho) of a latrine for the Houn Nara family, we've now built seventeen for some of the poorest families in the rural area of Kos Khel. Sanitation and decent toilet facilities are big issues in most rural areas of Cambodia, and the Kos Khel community is no exception.
The double-pit system construction begins Enclosure walls are completed using corrugated tin MfM director supervises delivery of the squatting ceramic
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