Mr. Ouk Virak, 35, and his wife with four children live in Trapaing Storng village, in the Takeo Province.
Virak is an individual loan client. The first loan he took with PRASAC was in 2006 and used it to make over $600 for raising piglets. This left him with additional income to spend on his family and expanding his piglet business.
He said PRASAC gave him an opportunity to have working capital to invest in his livelihood. With his second loan of $2000, he bought a rice milling machine, which allowed him to invest more in another business by milling rice for the villagers and from selling it as well. In the future, he wishes to transform his business into a rice milling production.
“Because of my business going well with the convenient repayment mode provided by PRASAC, I often paid off PRASAC before the maturity of each loan” said Virak.
His third loan was requested to buy a truck to load rice for his clients along with the processing of his business. The loan requested was up to $5000 with a term of 24 months and the repayment of monthly interest payments and every 3-month principle paid. With the convenience and financial assistance from PRASAC MFI, Virak is eager to apply for another loan with his brother’s sand pumping business.
“With the working capital from PRASAC, I have more opportunities to invest and it is more convenient for me”.