CambodiaRin Sao
With a loan of EUR 5,400 Rin is able to acquire additional farming land for her cassave farm.
€5,400
4.00%
36 months
6 months
EUR
Currency| Amount | €5,400 |
| Interest | 4.00% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Sao Rin, 61, is a cassava farmer who lives in the Kampong Cham Province of Cambodia with her husband and her child. Recently, the cassava plantation is making much more profit, so she grows cassava as the main revenues to support her family.
With the new loan from the KREDIT, Rin and her husband will used her loan to buy one hectare farmland to grow more cassava. With this new farmland, she believes she will see an increase in her income and her standard of living.
The loan must be repaid in 24 months.
| Company name | Phillip Bank |
| CEO | Rin Sao |
| Founded | 2012-01-01 |
| Location | Kampong Cham |
| Sector | Agriculture |
| Turnover | €84,321.42 |
| Employees | 2 |
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