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funding gap emerging markets
Cambodia

Heang Soklag

  • Phillip Bank
  • Invest in a Financial Institution
  • + 14 other investors
  • With a loan of EUR 6,200 Soklag is able to invest in her cassava plantation and increase her daily income.

    €6,200
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€6,200
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 6 days on 31 July 2016.

      Summary

      Mrs. Heang Soklag, 33, is married and lives with her husband and two school aged children in Kampong Cham province. To earn a living, she and her husband are farmers, growing cassava on five hectare of farmland since 2011 to earn as a main income to support her their family. The weather conditions have been difficult for farming in Cambodia this past year and the cassava price is also decrease which make many farmers are in bad condition, Mrs. Heang included.

      The cassava demand is now going better since most of the product are not export Vietnam and Thailand, but to China as well. Heang is asking for a loan to invest on her cassava plantation. She sees these investments as a great opportunity to increase her daily income and also to improve her standard of living.

      Company nameHeang Soklag
      CEOSoklag Heang
      Founded2011-01-01
      LocationDambae
      SectorAgriculture
      Turnover€10,140.54
      Employees1

      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 8 lives are improved

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