Chhao Yon
With a loan of EUR 6,600 Chhao is able to purchase a plowing machine and dig a well to grow more pepper.
€6,600
3.25%
36 months
6 months
EUR
CurrencyAmount | €6,600 |
Interest | 3.25% |
Maturity | 36 months |
Repayments | 6 months |
Currency | EUR |
The project
Chhao Yon, 46, is a farmer who lives in the Tbong khmum province with his wife and two children. He and his wife working in the farm together, they have been growing cassava, rubber, and pepper as well to earn income for support the family living.
In order to increase his family income, he would like a loan of 7,000USD to purchase plowing machine and dig a well to grow more pepper. He is confident that this purchase will allow him to increase his crop yields and his family income as well.
Local partner Kredit will provide the loan.
Company name | Phillip Bank |
CEO | Chhao Yon |
Founded | 2010-01-01 |
Location | Tbong Khmum |
Sector | Agriculture |
Turnover | €17,218.86 |
Employees | 2 |
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