Kev Vannorn
With a loan of EUR 20,350 Vannorn is able to expand her cashew plantation and increase income.
€20,350
3.25%
48 months
6 months
EUR
CurrencyAmount | €20,350 |
Interest | 3.25% |
Maturity | 48 months |
Repayments | 6 months |
Currency | EUR |
Summary
Read the information document of the issuer here
Vannorn is a married woman who resides in the province of Kampong Cham in Cambodia. Together with her husband, she works as a farmer growing cashew on her farmland and selling fried banana's as additional income.
With this loan, she is able to purchase more land for cultivation and therefore expand her business. This investment will enable her to better serve her customers and increase income.
Local partner Kredit provides this loan with a maturity of 48 months.
Company name | Kev Vannorn |
CEO | Vannorn Kev |
Founded | 2000-01-01 |
Location | Kampong Cham Province |
Sector | Agriculture |
Turnover | €46,552.84 |
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 2 jobs are created
- With this investment 4 lives are improved