CambodiaChea Vanny
With a loan of EUR 7,400 Vanny is able to sell more products in her grocery store.
€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
Vanny, 47, is a widowed woman who lives in Phnom Penh city, Cambodia. She is a grocery seller and has been operating in her grocery store for the past 5 years. She is purchasing all products to sell from local market such as ingredients, good cans, rice, and cakes.
To fulfill her customer needs, she is now asking for a loan to add more grocery to her store. She believes with this loan will allow her to enlarge her store and increase her profits to better support her family living conditions.
Local partner Kredit will provide this loan.
| Company name | Phillip Bank |
| CEO | Vanny Chea |
| Founded | 2012-01-01 |
| Location | Phnom Penh |
| Sector | Wholesale / Retail |
| Turnover | €18,691.58 |
| 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 Vanny
Richard TeeA. PronkRon van EijkCorné de Haas