Thanks to the support of DARA Europe, SCCO offers community funds to people who want to build a better future. The community fund allows parents in Andong to start or expand their own businesses. This way they earn enough income to support themselves and their families and work towards a stable future.
What is a microcredit?
The community fund is a small loan, often without interest, intended for start-up or small business owners. It allows them to make essential investments such as purchasing a means of transportation, tools or ingredients. Such investments can help someone get out of survival mode and earn a little extra each month. SCCO started microcredit as a pilot in 2022. The program encourages entrepreneurship and helps participating families build their financial independence step by step. Each month, participants repay part of their loan interest-free so that the money can be re-lent to others. In 2022, 5 different families participated in the pilot and all have now paid off their loans. In 2023, 7 families received microloans and in 2024 another 9 families.
Less money worries, more hope
Mr. Nounn and Mrs. Nei are an inspiring example of the power of a community fund. Together, they have three children: an eight-year-old daughter and three-year-old twins. A loan from SCCO allowed them to grow their business, a home-based store. They invested in more products such as instant noodles, spices and soft drinks, expanding their offerings.
This increased their sales, and gave them the financial room to better provide for their family. Nei explains “With the loan from the bank, I had to pay a lot of interest and little money was left over. Thanks to SCCO’s community fund, I keep more money for my family and can invest in my store.” The loan gave them not only material resources, but also hope. “My daughter enjoys going to the local elementary school, as well as taking extra classes at SCCO,” Nei shares proudly.
The story of Mr. Mean and Mrs. Hong Srey also shows how the community fund can change lives. They make a living by selling shells from a trailer with their two daughters. Until recently, they had to rent a trailer; this caused high expenses and hardly any profit. Thanks to a loan from SCCO, they were finally able to invest in their own trailer.
“Now we have enough left over to take care of our children,” Mrs. Srey says with relief. Their higher income not only provides financial security, but also peace of mind and stability. This allows them to work on their family’s future with more confidence.
The impact of the community fund
The community fund is not just a financial tool, it helps people build a more stable livelihood. Thanks to this extra income, communities are strengthened and people are no longer surviving from day to day. They get the chance to dream of a better future. SCCO’s program, supported by DARA Europe, proves that small investments can make big changes.
The community fund improves lives and gives children like Nei’s daughter the chance to go to school without worry. It is an investment in people – in their dreams, strength and potential. With this vision, SCCO and DARA Europe continue to work together for a world where everyone has the opportunity to grow.
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