CambodiaSophal Sreng
With EUR 13,200 Sophal can buy the excavator to have an additional income to support his family.
€13,200
4.00%
36 months
6 months
EUR
Currency| Amount | €13,200 |
| Interest | 4.00% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Mr. SRENG Sophal is a hard-working farmer and father of two children. he been working as a farmer since 2009, growing rice, rubber, and pepper to support his family. The weather conditions have been difficult in Cambodia, and the price of rubber has been decreased for these past year which make some farmers in bad condition.
Sophal, pictured from his rubber and pepper plantation, was employed as a excavator driver, and now he see a good opportunity to own the excavator to have an additional income to support his family.
He is asking for a loan to purchase an excavator so that he can dig the pond and water irrigation system for a profit.
| Company name | Phillip Bank |
| CEO | Sophal Sreng |
| Founded | 2009-01-01 |
| Location | Kampong Cham |
| Sector | Agriculture |
| Turnover | €81,284.21 |
| Employees | 1 |
Impact
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.
SDG’s impacted
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.
- With this investment 1 job is created
- With this investment 4 lives are improved
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We have already contributed to Sophal Sreng
Frans WittenbergCorné de HaasA. Pronk