Chhit Sarak
With a loan of EUR 5,000 Sarak will be able to expand his land and sell more rubber.
€5,000
3.00%
12 months
6 months
EUR
CurrencyAmount | €5,000 |
Interest | 3.00% |
Maturity | 12 months |
Repayments | 6 months |
Currency | EUR |
The project
Sarak Chhit and his wife, Sokom, are hard-working farmers that grow rubber. The weather conditions have been difficult in Cambodia, and the price of rubber has been decreased for these past year which make some farmers in bad condition.
Regardless of the low price of rubber, Sarak collects rubber output every day. Therefore Sarak is now asking for a loan to purchase two hectares of farmland to grow rubber. He sees this investment as a good opportunity to earn more income.
Together with local partner Kredit Lendahand will provide a loan that must be repaid in 12 months.
Company name | Phillip Bank |
CEO | Sarak Chhit |
Founded | 2010-01-01 |
Location | Memot |
Sector | Agriculture |
Turnover | €19,090.90 |
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