CambodiaChann Narin
With a loan of EUR 7,400 Chann is able to buy a new and more reliable taxi to increase her family income.
€7,400
3.25%
42 months
6 months
EUR
Currency| Amount | €7,400 |
| Interest | 3.25% |
| Maturity | 42 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Chann, 30, lives with her husband and one school-aged child in Phnom Penh city. She works in a grocery store, selling variety product from her home, while her husband runs a taxi from Phnom Penh to Kampong Cham province. Currently, his car is old and often fix which he spends a lot of money.
Narin is now asking for a loan to replace the old an unreliable taxi for her husband.
| Company name | Phillip Bank |
| CEO | Chann Narin |
| Founded | 2013-01-01 |
| Location | Phnom Penh |
| Sector | Services |
| Turnover | €31,401.86 |
| 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