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funding gap emerging markets
Cambodia

Chhay Sokleang

  • Phillip Bank
  • Invest in a Financial Institution
  • + 8 other investors
  • With EUR 6,200 Chhay is able to acquire a tractor to use on her cassave farm and increase production.

    €6,200
    Amount
    3.25%
    Interest
    36 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€6,200
    Interest3.25%
    Maturity36 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 1 day on 2 November 2016.

      Summary

      Chhay Sokleang, 48, is married and lives with her husband, Seam Choeun, in Tboung Khmum province. She has two children and all of them are married. She has been working as a farmer with her husband since 2006 to earn a living. They have 5 hectares of cassava to grow every year, and they were able to purchase 3 more hectares of farmland in 2013 to grow more cassava. Her husband also works as a dealer, purchasing cassava to resell at Vietnam border. 

      Chhay is now requesting for a loan to purchase a tractor and the rest of the money is to prepare for growing cassava for the next season. She believes that the tractor will not only help plow her farmland but also to rent out for an additional income to support her family.

      Must be repaid in 36 months.

      Company nameChhay Sokleang
      CEOChhay Sokleang
      Founded2006-01-01
      LocationDambae
      SectorAgriculture
      Turnover€26,175
      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.

      • With this investment 1 job is created
      • With this investment 4 lives are improved

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      We have already contributed to Chhay Sokleang

      Martijn Mulder
      Jaap Boersema
      + and another
      8
      investors