With a loan of EUR 9,000 Oeurn is able to expand his pepper plantation and therefore increase his income.
Oeurn Thul, pictured from his farm, is married and lives with his wife and three young children in Tboung Khmum province. Together with his wife are farmers, growing pepper to earn as a main income to support their family. Thul started growing pepper since 2003, and at that time he was able to grow only 100 pepper plants. So far, his family is able to grow up to 1,000 pepper plants. The pepper plantation is making much more profit since the demand are from EU countries. There is no matter how much the product they have, the dealer are always buy all the pepper.
He is now asking for a loan to grow more pepper as he sees this business opportunity as a way to increase his income and provides a higher living standard for the family.
Must be repaid in 24 months.
|Company name||Oeurn Thul|
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 people are reached