CambodiaPhen Leab
The salon of Phen is getting well daily so she wants to expand, depend on customer needs, with EUR 4,400.
€4,400
4.00%
36 months
6 months
EUR
Currency| Amount | €4,400 |
| Interest | 4.00% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Mrs. Phen leab is widowed mother and lives with two children in the Kampong Cham province. She has been running a business as a beauty salon as her main income to support her family living since 2014. Her business is getting well daily so she wants to expand her business depend on customer needs.
Beside the beauty salon, she also has a cashew nut and cassava farms to make profit every year. Currently, she is asking for a loan to buy material for her shop and pay for cashew and cassava farm expense. She sees this loan as a way to increase her income and is confident that the business venture will be successful.
| Company name | Phillip Bank |
| CEO | Phen Leab |
| Founded | 2014-01-01 |
| Location | Kampong Cham |
| Sector | Wholesale / Retail |
| Turnover | €23,362.83 |
| 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 1 job is created
- With this investment 4 lives are improved
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