Ms Phin Nalin was living with her widowed mother in her house situated along the national road in Kampong Cham province. The government plans to improve infrastructure throughout the country are helpful for easing transport congestion. However, for Phin Nalin and her mother this meant that their house was reduced to only 2 meters long after the expansion of the national road.
This was an impossible situation and without any other alternative, she and her mother decided to move into the small shop in the market where she sold clothes every day. They lived there for 3 years but it was not the perfect solution in trying to maintain her business and yet having to store all of their belongings and living in a market stall.
When Phin Nalin saw a First Finance flyer that explained about taking loans for housing at affordable rates she decided to contact FIrst Finance to find out more. Given they no longer had any land sufficient for a house she resolved to buy land and build her new home. Her income of $595 per month from her business enabled her to first take out a $5000 land loan in January 2017 to buy land in Chamka Loeu district, Kampong Cham province. She then took out a further $12,500 construction loan in August 2017 to build a 4.3m by 15m home.
The loan term is for 180 months and Phin Nalin was so happy that First Finance was able to provide such a long tenure for her to confidently repay the amount and that the loan covered the full construction budget. She and her mother have moved into their new home and she gives thanks for this “First Finance product that allows me to have a chance of living in a real house again”.