With EUR 7,000 Ly is able to buy a car to use to purchase groceries to sell in her store and save on transportation costs.
Mrs. Ly Sarus, 39, is a married mother of two school aged children, who lives in the rural village in Tbong khmum Province, Cambodia. Her husband is a farmer and has been working in the cassava and rubber farm. And she is a business woman who has been operating in the grocery store at home to make profits for the past 17 years. Once a week, she gets up in the early morning and got the taxi to the capital province to purchase the grocery such as drinks, source, ingredients, sugar canes, and needs product for resell.
Since this business is getting well from day to day, she decided to ask for a loan to purchase a car use to transport products from the market to her store. She sees this purchase will allow her to save money from transportation costs and increase her family profits.
Local partner Kredit will provide the loan, which has to be repaid in 36 months.
|Company name||Ly Sarus|
|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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- With this investment 2 jobs are created
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