CambodiaKhiev Sophy
With a loan of EUR 8,800 Sophy is able to purchase a mini truck to transport rice.
€8,800
3.00%
12 months
6 months
EUR
Currency| Amount | €8,800 |
| Interest | 3.00% |
| Maturity | 12 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Mrs. Khiev Sophy, 52, is married and lives with her husband and one child in Siem Reap province. She and her husband are farmers, growing rice and bean to earn a living for since they get married.
Beside farming, she also trades rice, cashew, cassava, and bean from local farmers to resell to wholesaler. There are two seasons, raining and dry season to grow rice, and she usually earns more profit during raining season as many farmers start growing rice.
She is now requesting for a loan to purchase a mini truck to transport rice.
| Company name | Phillip Bank |
| CEO | Sophy Khiev |
| Founded | 2006-01-01 |
| Location | Siem Reap |
| Sector | Agriculture |
| Turnover | €40,714.28 |
| 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 3 jobs are created
- With this investment 12 lives are improved
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