funding gap emerging markets
Cambodia

Vong

  • Phillip Bank
  • Local partner investment
  • + 8 other investors
  • With EUR 12,400 Sreyneag is able to acquire 2 acres of additional farming land to support her business.

    €12,400
    Amount
    4.00%
    Interest
    48 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€12,400
    Interest4.00%
    Maturity48 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 18 hours on 26 April 2016.
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      Summary

      Mrs. Vong Sreyneag, 32, is married and lives with her husband and two children. She and her husband, Prom Kosal, are farmers. they have 3 hectares of cassava plantation and 4 hectares of rubber plantation. Before married, her husband is a medic and now he also works as a local doctor and sells some medicines from home to have an additional income to support the family. Kosal owns a pickup truck and this truck is used to transport agricultural products. 

      Since the farming is the main source of income of the family, Mrs. Sreyneag is asking for a loan to purchase another two hectares of cassava plantation. To be repaid in 48 months. 

      Company nameVong
      CEOSreyneag Vong
      Founded2008-01-01
      LocationKratie
      SectorAgriculture
      Turnover€24,637.16
      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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