funding gap emerging markets
Cambodia

Sot Sovorn

  • Phillip Bank
  • Local partner investment
  • + 40 other investors
  • With EUR 17,600 Sovorn can purchase a big tractor with his trading business as it will bring more profit.

    €17,600
    Amount
    4.00%
    Interest
    36 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€17,600
    Interest4.00%
    Maturity36 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 11 days on 26 May 2016.
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      Summary

      Mr. SOT Sovorn is married and lives with his wife and one young child in Bantheay Meanchey province. To earn a profit, he has been working part time as a translator for a private company, and also works as a tractor dealer, purchasing secondhand tractor for resell. He can actually resell his secondhand tractor 1-2 tractors every month. The dealer business is making more income to support his family. 

      He is now requesting for a loan to invest in his trading business. He wants to purchase a big tractor as it will bring more profit.

      Company nameSot Sovorn
      CEOSovorn Sot
      Founded2015-01-01
      LocationBantheay Meanchey
      SectorWholesale / Retail
      Turnover€407,511.50
      Employees1

      Impact

      Phillip Bank is a microfinance institution in Cambodia that invests in people and their businesses via Micro-loans. By providing working capital to local entrepreneurs, they enable people in Cambodia to further expand their businesses and reach their potential for business growth and job creation.

      Micro-loans are an effective tool against poverty. Research has shown that communities with more viable small local businesses have more balanced economies and higher average prosperity levels. Their turnover mainly flows back to their communities, ensuring economic growth and stability. The capital provided by Phillip Bank works towards sustainably improving families' financial well-being in rural and urban communities.

       

      SDG’s impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No poverty

      SDG 8. Decent work and economic growth

      Read more about the impact you can make through our platform and the SDGs on our impact page.

       

      Related blog articles

      Read more here on how every Phillip Bank project that appears on our platform invests in several local entrepreneurs. 

      • With this investment 1 job is created
      • With this investment 4 lives are improved

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      We have already contributed for Sot Sovorn

      Läslo Hut
      Niek de Bruijn
      Richard Tee
      Gert Mosterd
      + and another
      40
      investors