CambodiaChing Kimsreng
With a loan of EUR 6,200 Kimsreng can stock more fabrics from garment factories in her store.
€6,200
4.00%
36 months
6 months
EUR
Currency| Amount | €6,200 |
| Interest | 4.00% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Mrs. Ching Kimsreng, 45, lives with one of her daughter in Phnom Penh city. She has a business buying fabrics from garment factory to resell to her customers. Some kind of the fabrics is used to make pillows, and some is used to make clothes to resell. This business has been about for 10 years to earn a profit.
Mrs. Ching is now requesting for a loan to stock more fabrics from garment factory and sell them when the price is high. she believes that this investment would bring more income to support her family.
| Company name | Phillip Bank |
| CEO | Kimsreng Ching |
| Founded | 2006-01-01 |
| Location | Phnom Penh |
| Sector | Wholesale / Retail |
| Turnover | €20,707.96 |
| 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 2 jobs are created
- With this investment 8 lives are improved
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We have already contributed to Ching Kimsreng
Ron van Eijk