With a loan of EUR 9,000 Rorn is able to purchase a second hand tractor to plow his farmland.
Sman Rorn, 28, lives with his wife and two children in Tboung Khmum province. To earn a living, he sells groceries from his home to earn as main income to support his family. He also has two hectares of cassava and cashew nuts farmland to earn an additional income.
He is now asking for a loan to expand his grocery business and purchase a second hand tractor to plow his farmland. He believes that these investments will bring more income to improve his living standard.
|Company name||Sman Rorn|
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 3 jobs are created
- With this investment 12 people are reached