Song Sengleang
With a loan of EUR 5,000 EUR Song will be able to diversify her income by starting to trade cassava as well.
€5,000
3.25%
36 months
6 months
EUR
CurrencyAmount | €5,000 |
Interest | 3.25% |
Maturity | 36 months |
Repayments | 6 months |
Currency | EUR |
Summary
Song Sengleang is a widowed farmer and lives with her two children in Kampong Cham province. She grows and trades cashew nuts to earn as main income to support her family. She has 3 hectares of farmland growing cashew nuts and she is able to collect about 3,000-4,000 dollar profit each hectare per year. She is now requesting for a loan to trade cassava and cashew nuts to resell.
Local partner Kredit provides a loan to Song that must be repaid within 36 months.
Company name | Song Sengleang |
CEO | Song Sengleang |
Founded | 2016-01-01 |
Location | Chamka Leu |
Sector | Agriculture |
Turnover | €19,090.90 |
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 2 jobs are created
- With this investment 8 lives are improved