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 meses
6 meses
USD
MoedaMontante | €140,000 |
Interesse | 4.50% |
Maturidade | 24 meses |
Reembolsos | 6 meses |
Moeda | USD |
O projeto
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 da empresa | First Finance |
DIRECTOR EXECUTIVO | Sothany Chun |
Fundada | 2008-01-01 |
Localização | Phnom Penh |
Sector | Serviços |
Volume de negócios | $3,700,000 |
Empregados | 125 |
Pontuação de crédito | B+ |
Impacto
75% dos cambojanos não têm meios para comprar uma casa. No Camboja, conseguir a propriedade de uma casa é uma das chaves para a estabilidade económica das famílias de rendimentos baixos e médios. First Finance fornece empréstimos de longo prazo para a melhoria de casas, permitindo que as famílias carenciadas comprem, construam ou melhorem casas de que se possam orgulhar. Para além disso, o First Finance leva a sua assistência um passo mais além, na medida em que educa as pessoas sobre a segurança da compra e venda da sua propriedade, bem como trabalha arduamente para proteger os cambojanos dos riscos negativos envolvidos na compra de uma propriedade. O acesso a uma habitação segura e a preços acessíveis melhora o nível de vida, a saúde e o desenvolvimento infantil, bem como a saúde física e mental. Também conduz à criação de emprego, ao aumento dos rendimentos e à sustentabilidade ambiental.
ODSimpacto do projeto
Com este projeto, está a contribuir para os seguintes Objectivos de Desenvolvimento Sustentável:
ODS 1. Erradicação da pobreza
ODS 11. Cidades e comunidades sustentáveis
Leia mais sobre o impacto que pode causar através da nossa plataforma e de ODS na nossa página de impacto.
- Com este investimento são criados 10 postos de trabalho
- Com este investimento 65 vidas são melhoradas