CambodiaSreynet Chhoeurng
With a loan of EUR 6,400 Sreynet is able to purchase a tractor to plow her farmland.
€6,400
3.00%
24 months
6 months
EUR
Currency| Amount | €6,400 |
| Interest | 3.00% |
| Maturity | 24 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Chhoeurng Sreynet is married and lives with her husband in Tboung Khmum province. She and her husband, Khul, have been working as farmers for about 10 years to earn a living. They grow cassava, sugar cane, and rice on 10 hectares of farmland to earn a profit. They also works as dealers, purchasing cassava to resell at Vietnam border.
Sreynet is now requesting for a loan to purchase a tractor to plow her farmland and the rest will invest to grow sugar cane. This is a big investment and she strongly believes that the cassava plantation will bring more income to help support the family.
| Company name | Phillip Bank |
| CEO | Sreynet Chhoeurng |
| Founded | 2008-01-01 |
| Location | Dambae |
| Sector | Agriculture |
| Turnover | €25,454.54 |
| Employees | 1 |
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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We have already contributed to Sreynet Chhoeurng
Remo DemirhisarAad SmitsJaap Boersema