Khorn Nao

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Khorn Nao

Phillip Bank

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With a loan of EUR 4,250 Nao is able to purchase seeds, fertilizer and other farming materials for her pepper farm.

€4,250

Importe

3.25%

Interés

36 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€4,250
Interés	3.25%
Vencimiento	36 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 17 horasen 20 Octubre 2017.

El proyecto

Read the information document of the issuer here

Nao, 41, is married and lives in the Tbong Khmum province with her husband and her four children. She has been earning income from making varieties of desserts and Khmer noodle to sell in the local market. Meanwhile her husband has been growing pepper, cashew, and cassava to aid more income for support the family’s living for the past 11 years. Inflation has made prices soar lately in Cambodia, and Nao realized that she needed to expand her farm to increase her income.

The family's main source of income comes from her husbands pepper farm that is why Nao is now asking for a loan to purchase seedlings, fertilizer and other growing materials to grow more pepper to boost crop yields. She sees this loan as a great economic opportunity and believes that she can raise her standard of living.

Local partner Kredit will provide the loan, which has to be repaid in 36 months.

Nombre de la empresa	Phillip Bank
Director general	Nao Khorn
Fundado	2005-01-01
Ubicación	Tbong Khmum province
Sector	Agricultura
Volumen de negocio	€12,081.35
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.