CambodiaVa Kimchhay
WIth EUR 13,200 Kimchhay's husband can purchase materials to invest in the construction business.
€13,200
4.00%
36 months
6 months
EUR
Currency| Amount | €13,200 |
| Interest | 4.00% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Mrs. VA Kimchhay has business selling rice and exchange service from home near the market. Her businesses has been around for about 5 years, while her husband is a construction foreman. Currently, her husband is contract to build two houses. Most of the contract is for labor and some both labor and construction material. He will earn more when client contract both labor and construction material to build a new house.
With the construction business, he is able to hire 11 short time constriction workers to work with. Mrs. VA and her husband are requesting for a loan to purchase construction materials to invest in her husband business.
| Company name | Phillip Bank |
| CEO | Kimchhay Va |
| Founded | 2003-01-01 |
| Location | Phnom Penh |
| Sector | Wholesale / Retail |
| Turnover | €157,879.64 |
| Employees | 11 |
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 2 jobs are created
- With this investment 8 lives are improved
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We have already contributed to Va Kimchhay
Jan de WitRichard TeeA. Pronk