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Home > Projects and Programs > Microfinance > Self Help Groups

Nahk in front of her new home

MICROFINANCE
Self Help Groups

Like many Cambodian families in remote areas of the country, At Nahk and her family lived in extreme poverty.

Despite their best efforts, food was always scarce, even in the best of times. With little or no income and no access to credit, Nahk’s family was slowly fading even further toward the margins of Cambodia’s poorest level of society.

Amidst the suffering, Nahk learned about HOPE International Development Agency’s Self Help Groups and how they were transforming the lives of families in equally dire straights.

Nahk decided to join a Self Help Group, along with five of her neighbors. She liked the idea of gathering together to support each other and hoped that one day she would be able to borrow a small amount of money to start a home-based business. The group pooled their savings and began issuing small loans to members. Her group also received additional funds from HOPE to increase the capacity of their savings and loan program.

Eventually, Nahk borrowed $46 to purchase a pig. Several months later, she sold the pig, earning $25 profit. Nahk used the profit to purchase a piglet and some thatch to repair her leaky roof. A little while later, Nahk borrowed $100 to purchase a delivery bicycle and more pigs. As she expanded her business her profits also grew.

Recently, Nahk was able to save enough money to buy the materials needed to build a modest but sturdy home (see photo above) to replace her older, run-down home.

Today, Nahk and her family have clean water from a proper well, nutritious food from their garden, income from their business, and most importantly, access to opportunities to further improve their life.

 

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