CambodiaSam Sopheap
With a loan of EUR 6,200 Sam is able to invest in an excavator for his construction business.
€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
Mr. SAM Sopheap, 42, is married and lives with his wife in Kampong Cham province. To earn a living, he has been working as a construction foreman to earn as a main income to support his family, while his wife sells food to earn an additional.
He is now request for a loan to purchase an excavator use for himself but also to rent out as he sees a good opportunity to improve his family standard living.
Together with local partner KREDIT will Lendahand provide a loan that must be repaid in 36 months.
| Company name | Phillip Bank |
| CEO | Sam Sopheap |
| Founded | 2001-01-01 |
| Location | Kampong Cham |
| Sector | Services |
| Turnover | €58,950 |
| Employees | 2 |
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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