With EUR 17,600 Sovorn can purchase a big tractor with his trading business as it will bring more profit.
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 name||Sot Sovorn|
|Sector||Wholesale / Retail|
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.
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.
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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