CambodiaHay Dara
With a loan of EUR 6,200 Hay is able to invest in his sisters business and increase his own income.
€6,200
3.00%
18 months
6 months
EUR
Currency| Amount | €6,200 |
| Interest | 3.00% |
| Maturity | 18 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Mr. Hay Dara, 26, is a construction foreman who lives in the Phnom Penh City of Cambodia. He has been working as the construction foreman to earn additional income since 2014.
While this business cannot earn as much as he needs, he is asking for a
loan with Kredit to make an investment. He would like to invest in his sister
business as the mortgage store. With this new business he believes he will
see an increase in his income and his standard of living will be
raised.
| Company name | Phillip Bank |
| CEO | Hay Dara |
| Founded | 2014-01-01 |
| Location | Phnom Penh |
| Sector | Services |
| Turnover | €37,500 |
| 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 Hay Dara
Aad SmitsDirk Rentmeester