My name is Daw Mya Mya Win and I am the owner of a farming business located in Pa TaukTan Village, Myanmar. I am both a hard-working farmer and a mother of three children who are still in primary school. On my two acres farm, I cultivate various seasonal fruits such as Pomelo, Lime, Jack fruit and watercress which I then sell to the nearby markets and buyers.
Before learning about microfinance, I had to pawn some of my belongings to obtain capital to invest in my farming business. However, as the interest rate was high and the reimbursement intervals were short while my earnings are seasonal, this type of repayment cycle was a challenge for me. In 2007, I learnt about VisionFund Myanmar loan services from my neighbor and decided to apply for an agricultural loan. For my first loan, I received 500,000 kyats ($400 USD) which I used to purchase fertilizers and insecticides. Alongside the loan, I have received financial training which enabled me to spend the loan more wisely. Additionally, the monthly decline rate repayment system was better suited to my business than the pawning repayment cycle. With the successful repayment of the first loan, I have contracted a second loan of 700,000 kyats ($600 USD) which I used to expand my business and grow more seasonal crops.
Overall, my experience with microfinance was extremely positive and I intend to maintain a long term connection with VisionFund Myanmar to benefit from affordable loans, financial training, and their savings program.