With a loan of EUR 7,000 Nhoek can dig a well and pond as an extra water supply for his pepper farm.
Nhoek Sopheap is 33 and lives in the Tboung Khmum Province of Cambodia. He is a farmer, and he has been working on his pepper farm together with his wife to earn additional income since 2007.
Because the weather condition these part years has been difficult that is why Mr. Sopheap is asking for a loan of to dig a well and pond as water supply. The rest of the loan is used to purchase fertilizer and insecticide for his pepper farm. He is confident that this loan will allow him to boost his crop yields and increase his family income.
Together with local partner Kredit Lendahand will provide a loan that must be repaid in 24 months.
|Company name||Nhoek Sopheap|
|Location||Tboung Khmum Province|
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 lives are improved