CambodiaChhin Voeng
With a loan of EUR 15,800 Chhin can expand her restaurant and her husband his business of cassave.
€15,800
4.00%
48 months
6 months
EUR
Currency| Amount | €15,800 |
| Interest | 4.00% |
| Maturity | 48 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Mrs. Voeng Chhin, 42, is married and lives with one child and her husband in Kampong Cham province. To earn a living, she opens a small restaurant from her home, selling breakfast and lunch. This business has been running for about two years, with two employments. Her husband usually buy cassava from farmers and transport to resell to wholesaler at Vietnam border.
The cassava season is usually starting from Jan to May depending on the geography, and a month he can buy from 50-100 tones for resell at Vietnam border, and with the cassava business, her husband can employed 6 parttime workers. Since the cassava trading is making more income to support the family,
Mrs. Chhin is asking for a loan from KREDIT for a husband to reinvest in cassava trading business.
| Company name | Phillip Bank |
| CEO | Chhin Voeng |
| Founded | 2014-01-01 |
| Location | Kampong Cham |
| Sector | Services |
| Turnover | €200,707.96 |
| 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 1 job is created
- With this investment 4 lives are improved