Lit Sovann
With a loan of EUR 8,450 Sovann is able to purchase new tools for her constructing business.
€8,450
3.25%
48 months
6 months
EUR
CurrencyAmount | €8,450 |
Interest | 3.25% |
Maturity | 48 months |
Repayments | 6 months |
Currency | EUR |
Summary
Read the information document of the issuer here
Sovann, 38 years old, lives with her husband and three children in the city Phnom Penh in Cambodia. Together with her husband they run their own business, constructing wooden tables, chairs, and other wooden furniture to sell (her husband is in the picture). They have been working in this business for about the past 3 years.
With this loan she can purchase new construction materials to build furniture in order to enlarge her business. With the additional profits, she will expand her business, renovate her house, and support her children in getting better education.
Local partner Kredit provides this loan with a maturity of 48 months.
Company name | Lit Sovann |
CEO | Sovann Lit |
Founded | 2015-01-01 |
Location | Phnom Penh |
Sector | Wholesale / Retail |
Turnover | €47,674.57 |
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