BENEFITING: Journeys Within Our Community
Little Loans making a Large Impact: Microfinance
In 2006, JWOC conducted surveys in local villages that had received JWOC water wells to see what else was needed. The response: an overwhelming demand for basic loans.
As most of the families surveyed were living at or below the poverty line, and realizing that without collateral or any access to money other than from money-lenders with very high interest rates, JWOC created a Cambodian Microfinance project. These families now have access to fair-interest loans that give them the opportunity to grow their businesses while still being able to afford their daily necessities.
Presentations and educational information sessions are held for potential borrowers so that they can receive business and budget training as well as hygiene and clean water training. The JWOC scholarship students make the Microfinance Project possible. Students go out weekly to collect and record loan repayments, assist with new borrower applications, provide business advice to existing borrowers and conduct surveys to measure the impact of the project.
JWOC has been able to successfully disburse over 430 microfinance loans to borrowers in the Siem Reap community. Our repayment rates were approximately 86% in 2008, 95% in 2009 and 98% in 2010. We have four regular loan cycles every year.
For more information about JWOC's microfinancing or to read a full report from an independent consultant regarding the positive impact of JWOC’s lending, click here.
How you can help:
By donating to JWOC’s Microfinance Project you are not only supporting an individual borrower but you are also helping the wider community. As loans are repaid, JWOC is able to use the money again to help further individuals to develop their businesses.
- One off donation: $5 - infinity
Your one off donation to JWOC’s Microfinance project will be added to the pool for all borrowers in the community
- Subscription: $20 p/month
Your regular donations will be added to the pool for all borrowers in the community, also providing clean water and hygiene lessons to borrowers.