Featured Photo: Home improvement loans backed by OPIC keep Cambodian architecture alive
OPIC Managing Director of Micro and SME Finance Loren Rodwin, left, visits the home of Pen Phalla, center, a Cambodian grocery store owner who is using a $3000 home improvement loan to expand her house and business in the traditional Khmer architectural style. A Cambodian microfinance institution, Thaneakea Phum (Cambodia), Ltd. (TPC), is using a $5 million OPIC loan to help as many as 5000 borrowers access its home improvement loan program, as well as individual loans for TPC’s predominantly rural, agricultural clients, most of them women. At right is Ms. Pen’s TPC loan officer, Chai Lin Tsun.
“I’ve worked with TPC before – I took out two group loans in order to expand my business – and I’ve always had a good experience with them,” Ms. Pen said. “I like this home improvement loan because of its term, which is four years, because it allows me to make affordable monthly payments.”