First Finance 14
With this investment of EUR 140,000 local partner First Finance in Cambodia can provide loans to support 13 families in Phnom Prek district to purchase land for their first home. **please note: this project contains an exchange rate risk EUR/USD)**
€140,000
4.50%
24 mesi
6 mesi
USD
ValutaImporto | €140,000 |
Interesse | 4.50% |
Maturità | 24 mesi |
Rimborsi | 6 mesi |
Valuta | USD |
Il progetto
Summary
First Finance (“FF”) is a Cambodia-based mortgage provider for low- and middle-income borrowers. FF operates under a non-deposit taking microfinance license from the National Bank of Cambodia (NBC). The company is owned by several national and international (impact) investors, among which Norfund and Insitor. Amongst its lenders are Oikocredit, Symbiotics, BlueOrchard and Triple Jump.
First Finance’s mission is to build economic stability of low-income Cambodian families by increasing access to home ownership. The company positions itself as “housing solutions partner”, not only providing finance but also providing legal advice, construction planning, and home purchase decision-making services.
First Finance focuses on low- and middle-income salaried employees or self-employed business owners. Its customers are predominantly employed as office or factory workers and civil servants.
The company is active in 85 (out of 165) districts and in 17 provinces (out of 25), through 9 branches, mostly in urban areas. First Finance reaches its clients through referral programs, direct marketing campaigns, public workshops on financing a home, partnerships and online media. First Finance also manages a call-center to provide consultation on property issues to existing and new clients.
The main products of the company are:
- (First) home loans (mortgages)
- Home improvement loans (loans for constucting a house on existsing land or to renovate an existing house)
- Residential Land loans (loans for the purcahse of land for residential purpsose)
- Home equity loans (loans for consumptive or productive use based on the value of an existing home)
Use of Proceeds
With this investment of EUR 140,000 local partner First Finance in Cambodia can provide loans to support 13 families in Phnom Prek district to purchase land for their first home.
Mission
The company’s mission is to build the economic stability of low-income Cambodian families by increasing access to home ownership through the provision of finance.
Vision
To help low-middle income families in Cambodia to live in dignity, security, happiness, and stability through home ownership.
Highlights or Awards:
- In 2012, First Finance won an ASEAN Business Award in the category of Growth (for SMEs).
- In 2017, FF was selected as semi-finalist for the European Microfinance Award. The theme of the award is Microfinance for housing.
Nome della società | First Finance |
AMMINISTRATORE DELEGATO | Sothany Chun |
Fondato | 2008-01-01 |
Posizione | Phnom Penh |
Settore | Servizi |
Fatturato | $3,700,000 |
I dipendenti | 125 |
Punteggio di credito | B+ |
Impatto
Il 75% dei cambogiani non può permettersi di acquistare una casa. In Cambogia, il raggiungimento della proprietà della casa è una delle chiavi per la stabilità economica delle famiglie a basso e medio reddito. First Finance fornisce prestiti a lungo termine per il miglioramento della casa, consentendo alle famiglie meno abbienti di acquistare, costruire o migliorare le case di cui possono essere orgogliosi. Inoltre, First Finance fa un ulteriore passo avanti nell'assistenza, educando le persone ad acquistare e vendere le loro proprietà in modo sicuro e lavorando duramente per proteggere i cambogiani dai rischi negativi legati all'acquisto di una proprietà. L'accesso a un alloggio sicuro e a prezzi accessibili migliora gli standard di vita, la salute e lo sviluppo dell'infanzia e la salute fisica e mentale. Inoltre, favorisce la creazione di posti di lavoro, l'aumento del reddito e la sostenibilità ambientale.
ODSL'impatto
Con questo progetto contribuite al raggiungimento dei seguenti Obiettivi di sviluppo sostenibile:
ODS 1. Nessuna povertà
ODS 11. Città e comunità sostenibili
Per saperne di più sull'impatto che potete avere attraverso la nostra piattaforma e il sito ODS, visitate la nostra pagina sull'impatto.
- Con questo investimento vengono creati 10 posti di lavoro
- Con questo investimento si migliorano le vite di 65