Khorn Thet
With a loan of EUR 4,250 Thet is able to purchase more farmland and increase his cashew yield and thus his family income.
€4,250
3.00%
24 months
6 months
EUR
CurrencyAmount | €4,250 |
Interest | 3.00% |
Maturity | 24 months |
Repayments | 6 months |
Currency | EUR |
Summary
Thet, 34, lives with his wife and child in the Tboung Khmum province of Cambodia. He has been working in the cashew and cassava business to earn income for support the family living, while his wife is taking care his child and house. He started growing cashew as his main source of income since 2010.
Now he requesting for a loan to purchase more farmland to grow more cashew since it is growing well. He thinks this investment will allow him to increase his crop yields and family profits.
Local partner Kredit will provide the loan, which has to be repaid in 24 months.
Company name | Khorn Thet |
CEO | Thet Khorn |
Founded | 2010-01-01 |
Location | Tbong Khmum province |
Sector | Agriculture |
Turnover | €7,159.32 |
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 1 job is created
- With this investment 4 lives are improved