Toem Sarun
With a loan of EUR 8,450 Sarun is able to purchase two more hectares of farmland and expand her cashew grove.
€8,450
3.25%
36 months
6 months
EUR
CurrencyAmount | €8,450 |
Interest | 3.25% |
Maturity | 36 months |
Repayments | 6 months |
Currency | EUR |
The project
Mrs. Toem Sarun is 29 years old. She is married, and works with her husband (see picture) to grow cashew and pepper. Together they have one child of adult age. Sarun is a very honest, charismatic and enterprising person, and is very hardworking. One of her dreams is to improve the quality of life of her family.
She will use the loan to purchase two more hectares of farmland and other supplies to improve her grove of cashew. With 11 years experience in her business, she will invest in farmland because she knows she will harvest more.
Local partner Kredit will provide the loan, which has to be repaid in 36 months.
Company name | Phillip Bank |
CEO | Sarun Toem |
Founded | 2009-01-01 |
Location | Tbong Khmum province |
Sector | Agriculture |
Turnover | €11,440.67 |
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