With EUR 8,800 Nuth is able to acquire 4 acres of additional farming land and produce more cassave.
Mrs. Nuth Sothea is married and lives with her husband and two children in Kampong Cham province. She and her husband have three trucks, transporting agriculture products such as cashew nuts, corns, rice, mangos, and cassava depending on the season to resell. They sometime buys and sells fire wood for additional income to support the family. Beside the transportation business, they also own 2 hectares of farmland, growing cassava to support their family.
Mrs. Nuth is now requesting for a loan to purchase 4 more hectares of farmland to grow cassava. This is a big investment and she strongly believes that the cassava plantation will bring more income to help support the family. Must be repaid in 36 months.
|Company name||Nuth Sohtea|
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 2 jobs are created
- With this investment 8 people are reached