funding gap emerging markets
Cambodia

Sman Rorn

  • Phillip Bank
  • Local partner investment
  • + 4 other investors
  • With a loan of EUR 9,000 Rorn is able to purchase a second hand tractor to plow his farmland.

    €9,000
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€9,000
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 1 day on 7 November 2016.
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      Summary

      Sman Rorn, 28, lives with his wife and two children in Tboung Khmum province. To earn a living, he sells groceries from his home to earn as main income to support his family. He also has two hectares of cassava and cashew nuts farmland to earn an additional income.

      He is now asking for a loan to expand his grocery business and purchase a second hand tractor to plow his farmland. He believes that these investments will bring more income to improve his living standard.

      Company nameSman Rorn
      CEORorn Sman
      Founded2000-01-01
      LocationDambae
      SectorAgriculture
      Turnover€39,189.18
      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.

       

      Related blog articles

      Read more here on how every Phillip Bank project that appears on our platform invests in several local entrepreneurs. 

      • With this investment 3 jobs are created
      • With this investment 12 people are reached

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