funding gap emerging markets
Cambodia

Chin Chorn

  • Phillip Bank
  • Local partner investment
  • + 17 other investors
  • With a loan of EUR 6,400 Chin will be able to expand his farm where he grows rice and cashew.

    €6,400
    Amount
    3.00%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€6,400
    Interest3.00%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 13 hours on 11 April 2017.
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      Summary

      Chorn is 32 years old married man. He lives with his wife and three children in Kampong Cham province of Cambodia. He and his wife have been cultivating rice and cashew to making profits for support the family’s living expenses. Since the cashew farm is getting well, he is now asking for a loan to grow more cashew. He believes with this loan will loan will allow him to increase his yields and his family profits as well.
      Company nameChin Chorn
      CEOChin Chorn
      Founded2010-01-01
      LocationKampong Cham
      SectorAgriculture
      Turnover€18,691.58
      Employees2

      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.

       

      Related blog articles

      Read more here on how every Phillip Bank project that appears on our platform invests in several local entrepreneurs. 

      • With this investment 1 job is created
      • With this investment 4 people are reached

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      We have already contributed for Chin Chorn

      A. Pronk
      Jan de Wit
      Niek de Bruijn
      + and another
      17
      investors