Somat Path
With EUR 13,200 Somat can acquire additional acres farmland to cultivate pepper, cashew and cassave plants.
€13,200
4.00%
36 months
6 months
EUR
CurrencyAmount | €13,200 |
Interest | 4.00% |
Maturity | 36 months |
Repayments | 6 months |
Currency | EUR |
Summary
Mrs. Somat has 3 children and lives her husband in Kampong Cham province. She and her husband are hard-working farmers who grow cassava, pepper, and cashew nut on five hectares of farmland since 2005. Her husband pictured from pepper and rubber plantation.
For the last few years, the weather has been a difficult in Cambodia, and the price of rubber are decrease. Most of the farmers are facing with the water irrigation system since the temperature is going hot. Some provinces the temperature is about 40 degree and some of the big pond are also dry as well.
Since the price of rubber is decrease for past years, so she and her want to apply for a loan to purchase 3 hectares more cassava and cashew nut. The price of these two products are stable to make investment to support her family. Must be repaid in 36 months.
Company name | Somat Path |
CEO | Somat Path |
Founded | 2005-01-01 |
Location | Kampong Cham |
Sector | Agriculture |
Turnover | €31,136.84 |
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