CambodiaUo Sophorn
With EUR 7,000 Sophorn is able to acquire 1 acre of land for her cassave and pepper farm.
€7,000
3.00%
24 months
6 months
EUR
Currency| Amount | €7,000 |
| Interest | 3.00% |
| Maturity | 24 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Uo Sophorn is a hard-working farmer and mother of two children. She has been growing pepper, cassava, and rubber since 2009, while her husband is a motorcycle repair man.
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.
However, the price of cassava and pepper remains good and she is now would like to request a loan from KREDIT to purchase one hectare of farmland to grow more cassava and to purchase motorcycle spare part for her husband's business.
The loan must be repaid in 24 months.
| Company name | Phillip Bank |
| CEO | Uo Sophorn |
| Founded | 2014-01-01 |
| Location | Memot |
| Sector | Agriculture |
| Turnover | €17,325 |
| 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 Uo Sophorn
Leendert SmitMartijn KistemakerOlaf JanssenCasper RoosErwin Meijer