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funding gap emerging markets
Cambodia

Chhit Sarak

  • Phillip Bank
  • Invest in a Financial Institution
  • + 6 other investors
  • With a loan of EUR 5,000 Sarak will be able to expand his land and sell more rubber.

    €5,000
    Amount
    3.00%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€5,000
    Interest3.00%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 18 hours on 17 October 2016.

      Summary

      Sarak Chhit and his wife, Sokom, are hard-working farmers that grow rubber. 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.


      Regardless of the low price of rubber, Sarak collects rubber output every day. Therefore Sarak is now asking for a loan to purchase two hectares of farmland to grow rubber. He sees this investment as a good opportunity to earn more income.

      Together with local partner Kredit Lendahand will provide a loan that must be repaid in 12 months.

      Company nameChhit Sarak
      CEOSarak Chhit
      Founded2010-01-01
      LocationMemot
      SectorAgriculture
      Turnover€19,090.90
      Employees1

      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

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      We have already contributed to Chhit Sarak

      Huub Huijsmans
      Jan de Wit
      + and another
      6
      investors