Sorn Ra
With a loan of EUR 9,200 Sorn is able to purchase one hectare farmland to grow more cassave.
€9,200
3.25%
48 months
6 months
EUR
CurrencyAmount | €9,200 |
Interest | 3.25% |
Maturity | 48 months |
Repayments | 6 months |
Currency | EUR |
Summary
Sorn, 55, is married woman who resides in the Tbong Khmum province of Cambodia. She is a farmer and has been working together with her husband on the rice and cassava farm for the past 11 years to make profits for support the family living.
Since the cassava farm is growing well, she is now asking for a loan to purchase one hectare farmland to grow more cassava. She believes with this loan will allow her to increase her crop yields and as well as her family profits.
Local partner KREDIT will provide this loan.
Company name | Sorn Ra |
CEO | Sorn Ra |
Founded | 2006-01-01 |
Location | Tbong Khmum |
Sector | Agriculture |
Turnover | €28,037.38 |
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 3 jobs are created
- With this investment 12 lives are improved