CambodiaChab Sokea
WIth a loan of EUR 10,400 Sokea will have money to buy more cassava, rubber, and cashew nut for resell.
€10,400
3.00%
12 months
6 months
EUR
Currency| Amount | €10,400 |
| Interest | 3.00% |
| Maturity | 12 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Mrs. Chab Sokea, 45, is married and lives with her husband and one child in Kampong Cham province. To earn a living, She and her husband work as dealers, buying cashew nuts, cassava, mango, and rubber from small farmers to resell at the factory. They also grow rice and cassava on 3 hectars of farmland to have an additional income to support their family.
Mrs. Sokea has started a dealer business for about 4 years but she does not earn more income since there are many competitions and she has little capital to invest. She is requesting for a loan to invest in her dealing business.
After the loan, she will have more money to buy more cassava, rubber, and cashew nut for resell.
| Company name | Phillip Bank |
| CEO | Sokea Chab |
| Founded | 2012-01-01 |
| Location | Kampong Cham |
| Sector | Agriculture |
| Turnover | €55,978.94 |
| 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
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We have already contributed to Chab Sokea
Huub HuijsmansAad SmitsWillem Gunneman