Phillip Bank 6 (KREDIT Cambodia)
With a loan of EUR 41,000 Phillip Bank (before Kredit Cambodia) will be able to provide growth capital to 3 grocery sellers and 1 farmer.
€41,000
3.00%
48 months
6 months
EUR
CurrencyAmount | €41,000 |
Interest | 3.00% |
Maturity | 48 months |
Repayments | 6 months |
Currency | EUR |
Summary
Warning
Given the current situation regarding COVID-19, there is increased uncertainty. Although Phillip Bank is in good shape and agreements have only recently been made with regard to interest and maturities, it is wise to be careful with your investments.
Phillip Bank Plc is a member of PhillipCapital, an integrated Asian financial house based in Singapore, but operational in 15 countries, including offices in Australia, Cambodia, China (and Hong Kong SAR), France, India, Indonesia, Japan, Malaysia, Singapore, Thailand, Turkey, UK, UAE, USA and Vietnam.
Phillip Bank Plc commenced business in Cambodia in 2009. In 2019, they merged with Lendahand's partner Kredit (an MFI focused providing financial services and training to low-income earners).
Information document issuing entity (NL)
Information note issuing entitiy (BE)
With this investment Phillip Bank will be able to finance the following 4 entrepreneurs:
Ry is a grocery seller at Kandal Province, Cambodia, Ry is married and has two school aged children. She has been operating in her store to make profits for support the family life expenses for the past 11 years. In order to increase her family profits, she is now asking for a loan to add more grocery to her store and the rest of the loan she would like to purchase one hectare farmland to grow pepper.
Sotin lives in Phnom Penh city of Cambodia. She is a food seller and has been selling rice and porridge in the morning to earn income, since 2009. To expand her trading business, she is now asking for a loan to purchase more food materials for sell.
Phan is married mother. She is living with her husband and two children in Phnom Penh City of Cambodia. For the past ten years, she and her husband have been earning income from their plantation to support the family living. In order to increase her profit, she is now asking for a loan to expand.
A grocery seller in Phnom Penh of Cambodia, Rozaly is married and has three school aged children. In order to increase her family profits, she is now asking for a loan to add more grocery to her store and the rest of the loan she would like to purchase one hectare farmland to grow pepper.
Company name | Phillip Bank 6 (KREDIT Cambodia) |
CEO | Ry Nget |
Founded | 1995-01-21 |
Location | Phnom Penh |
Sector | Wholesale / Retail |
Turnover | €15,000,000 |
Employees | 8 |
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 5 jobs are created
- With this investment 25 lives are improved