CambodiaYary Sorn
With a loan of EUR 5.800 Yary will be able to invest in her rice business and provide more income for her family.
€5,800
3.25%
36 months
6 months
EUR
Currency| Amount | €5,800 |
| Interest | 3.25% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Yary Sorn is married and resides with her husband and two children in Ponea Krek district, Tboung Khmum province. She is a farmer who grows and trades rice to support her family for about 5 years, while her husband owns a small truck to transport rubber for a private company to earn transportation fee.
This couple also has a business grinding rice from home to earn an additional income. Yary is now asking for a loan to reinvest in her rice trading business. She believes that she can buy more rice from the village nearby for resell.
Local partner Kredit provides a loan to Yary that must be repaid within 36 months.
| Company name | Phillip Bank |
| CEO | Yary Sorn |
| Founded | 2012-01-01 |
| Location | Phnom Phen |
| Sector | Agriculture |
| Turnover | €15,703.84 |
| 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