CambodiaPhorn Leng
With a loan of EUR 2,550 Leng is able to purchase one more hectare of farmland to grow more rice and increase her income.
€2,550
3.00%
12 months
6 months
EUR
Currency| Amount | €2,550 |
| Interest | 3.00% |
| Maturity | 12 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Read the information document of the issuer here
Leng is a 48-year-old married woman with 4 children, all of them are still in school. She lives in a rural community, of the Kampong Cham province. For the past 20 years, Leng has operated a farm with her husband where she cultivates rice that she can sell in her community and at the market to earn a living.
With this loan Leng can purchase one more hectare of farmland to grow more crop and pay for additional seedlings, a spray can, and fertilizer to assist her with her farming activities. She plans to use her profits to support her family and pay school fees for her children.
Local partner Kredit provides the loan, which has to be repaid in 12 months.
| Company name | Phillip Bank |
| CEO | Leng Phorn |
| Founded | 1990-01-01 |
| Location | Kampong Cham Province |
| Sector | Agriculture |
| Turnover | €10,088.13 |
| 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 1 job is created
- With this investment 4 lives are improved
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We have already contributed to Phorn Leng
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