Thor Chandy
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With a loan of EUR 4,400 Thor is able to invest in a tractor to plough his land more effectively.
€4,400
3.00%
24 months
6 months
EUR
CurrencyAmount | €4,400 |
Interest | 3.00% |
Maturity | 24 months |
Repayments | 6 months |
Currency | EUR |
The project
Mr. Thor Chandy is a farmer who lives with two children in Kampong Cham province. He grows mangoes, cashew nuts, and rice on five hectares of farmland. Before he become a professional farmer, he joined agricultural training class and learned from his neighbor who has many years of experience.
Mr. Thor is now requesting for a loan to purchase a tractor so that he can work on his farm and rent to other to plow the farmland for an additional profit.
The loan must be repaid in 24 months.
Company name | Phillip Bank |
CEO | Thor Chandy |
Founded | 2015-01-01 |
Location | Kampong Cham |
Sector | Agriculture |
Turnover | €70,714.28 |
Employees | 2 |
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 Thor Chandy
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