CambodiaHong Lavy
With a loan of EUR 5,800 Lavy is able to purchase a store and save on her monthly rent.
€5,800
4.00%
36 months
6 months
EUR
Currency| Amount | €5,800 |
| Interest | 4.00% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Hong Lavy, 35, is a true entrepreneur selling chickens and pork in the down town market of Kampong Cham Province, while her husband is a farmer and her child is a garment factory worker. Currently, Lavy needs to spend around USD100 to pay for the store as renting fee monthly.
To save the monthly payment, she is now would like to request for a loan to purchase a store she is renting so that she is able to save renting monthly payment.
| Company name | Phillip Bank |
| CEO | Lavy Hong |
| Founded | 2006-01-01 |
| Location | Prey Chor |
| Sector | Wholesale / Retail |
| Turnover | €13,392.85 |
| 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 Hong Lavy
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