CambodiaHel Soknel
With EUR 6,200 Hel Soknel is able to invest in a small truck in order transport products of her and neighbouring farms.
€6,200
4.00%
36 months
6 months
EUR
Currency| Amount | €6,200 |
| Interest | 4.00% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Mrs. Hel Soknel, 45, working together with her husband, Nov Meth, as farmers, growing rice since 2010 to earn a meager income to support their family. Mostly the rice output is just to support their family.
To earn more income, Mrs. HEL is asking for a loan to purchase mini truck to transport agriculture products for a fee.
Together with local partner KREDIT will Lendahand provide a loan that must be repaid in 36 months.
| Company name | Phillip Bank |
| CEO | Soknel Hel |
| Founded | 2010-01-01 |
| Location | Kampong Cham |
| Sector | Agriculture |
| Turnover | €21,684.95 |
| 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 1 job is created
- With this investment 4 lives are improved
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We have already contributed to Hel Soknel
Martijn Mulder