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funding gap emerging markets
Cambodia

Van Somnang

  • Phillip Bank
  • Invest in a Financial Institution
  • + 10 other investors
  • With a loan of EUR 2,550 Van will be able to buy a tractor for farming during the dry season in Cambodia.

    €2,550
    Amount
    3.25%
    Interest
    30 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€2,550
    Interest3.25%
    Maturity30 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 1 day on 16 September 2017.

      Summary

      Mrs. Van Somnang is 32 years old. She is married and living with her beloved husband and three children in the village in Prey Veng province of Cambodia. She and her husband are farmers and have been cultivating rice to makes profits for support the family’s living since 2010. Because of the weather conditions has been difficult for farming, she is now decided to applying for a loan to purchase rice seeds, organic fertilizer, organic pesticide, and a tractor for farming in this dry season. She believes with this loan will allow her to cultivating rice 2-3 time per years both rainy and dry season to increase her crop yields and as well as her family profits.

      Company nameVan Somnang
      CEOVan Somnang
      Founded2010-01-01
      LocationPrey Veng
      SectorAgriculture
      Turnover€11,952.54
      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.

      • With this investment 1 job is created
      • With this investment 4 lives are improved

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