With a loan of EUR 6,400 Chin will be able to expand his farm where he grows rice and cashew.
SummaryChorn 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 name||Chin Chorn|
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.
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.
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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