With EUR 8,800 Po is able to build 5 additional rooms to be rented out to garment factory workers.
Mr. PO MONY, 30, is married and lives with his wife in Phnom Penh city. Currently, he rents 10 small rooms to garment factory workers to earn a profit. Each room, he can earn $30-$40 per month, while his wife, DIN Sophars, is a grocery seller from home to help earn an additional income to help support the family.
Mr. PO MONY is now is requesting for a loan to build 5 more rooms to rent to garment workers. he believes that this investment would bring more income for his family.
Together with local partner KREDIT will Lendahand provide a loan that must be repaid in 48 months.
|Company name||Po Mony|
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.
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.
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Read more here on how every Phillip Bank project that appears on our platform invests in several local entrepreneurs.
- With this investment 1 job is created
- With this investment 4 lives are improved