Chhit Sarak

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Chhit Sarak

Phillip Bank

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With a loan of EUR 5,000 Sarak will be able to expand his land and sell more rubber.

€5,000

Importe

3.00%

Interés

12 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€5,000
Interés	3.00%
Vencimiento	12 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 18 horasen 17 Octubre 2016.

El proyecto

Sarak Chhit and his wife, Sokom, are hard-working farmers that grow rubber. The weather conditions have been difficult in Cambodia, and the price of rubber has been decreased for these past year which make some farmers in bad condition.

Regardless of the low price of rubber, Sarak collects rubber output every day. Therefore Sarak is now asking for a loan to purchase two hectares of farmland to grow rubber. He sees this investment as a good opportunity to earn more income.

Together with local partner Kredit Lendahand will provide a loan that must be repaid in 12 months.

Nombre de la empresa	Phillip Bank
Director general	Sarak Chhit
Fundado	2010-01-01
Ubicación	Memot
Sector	Agricultura
Volumen de negocio	€19,090.90
Empleados	1

Impacto

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.