CambodiaKhorn Nao
With a loan of EUR 4,250 Nao is able to purchase seeds, fertilizer and other farming materials for her pepper farm.
€4,250
3.25%
36 months
6 months
EUR
Currency| Amount | €4,250 |
| Interest | 3.25% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Read the information document of the issuer here
Nao, 41, is married and lives in the Tbong Khmum province with her husband and her four children. She has been earning income from making varieties of desserts and Khmer noodle to sell in the local market. Meanwhile her husband has been growing pepper, cashew, and cassava to aid more income for support the family’s living for the past 11 years. Inflation has made prices soar lately in Cambodia, and Nao realized that she needed to expand her farm to increase her income.
The family's main source of income comes from her husbands pepper farm that is why Nao is now asking for a loan to purchase seedlings, fertilizer and other growing materials to grow more pepper to boost crop yields. She sees this loan as a great economic opportunity and believes that she can raise her standard of living.
Local partner Kredit will provide the loan, which has to be repaid in 36 months.
| Company name | Phillip Bank |
| CEO | Nao Khorn |
| Founded | 2005-01-01 |
| Location | Tbong Khmum province |
| Sector | Agriculture |
| Turnover | €12,081.35 |
| Employees | 1 |
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 Khorn Nao
Marlies Witteveen Maarten Pijnenburg