CambodiaChea Savong
With EUR 9,000 Savong is able to purchase her fruit stand, cut back on the monthly fee and increase her income.
€9,000
3.25%
48 months
6 months
EUR
Currency| Amount | €9,000 |
| Interest | 3.25% |
| Maturity | 48 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Chea Savong is 33 years old and sells vegetables and fruits in the Siem Reap province. Her business has been around for about six years. Selling vegetables and fruits has been a difficult business, as there is high inflation and weather conditions that have not been conducive to a good growing season.
She is asking for a loan to make two investments. She would like to purchase her fruit stand so that she will not pay the fee monthly, and also expand her own fruit business, increasing her stock of fruits to sell. She sees these investments as opportunities that will be able to increase her daily income.
| Company name | Phillip Bank |
| CEO | Savong Chea |
| Founded | 2009-01-01 |
| Location | Siem Reap |
| Sector | Wholesale / Retail |
| Turnover | €56,727.27 |
| 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 Chea Savong
Peter ScheedlerHarry Stein