CambodiaChhoun Sophea
With a loan of EUR 5,000 Sophea will be able to purchase farmland to grow more crops like rice and cassave.
€5,000
3.00%
24 months
6 months
EUR
Currency| Amount | €5,000 |
| Interest | 3.00% |
| Maturity | 24 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Chhoun Sophea is married farmer, who lives in the Tbong Khmum province with her husband and two children. She raises pigs, cultivating rice and cassava to earn income, while her husband working as a teacher and also work in the pepper farm to aid the family income. Due to shortage of money, she approached Kredit about a loan of 5,500US$ to purchase farmland to grow more crops. She believes that this extra source of income will be sustainable and that the farmland can be a valuable tool to increase her standard of living.| Company name | Phillip Bank |
| CEO | Sophea Chhoun |
| Founded | 2010-01-01 |
| Location | Tbong Khmum |
| Sector | Agriculture |
| Turnover | €16,990.65 |
| 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
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We have already contributed to Chhoun Sophea
Jaap BoersemaJos SchreurA. PronkLeendert Smit