CambodiaHeng Sophat
With a loan of EUR 9,800 Heng is able to buy materials for a big contstruction job.
€9,800
3.25%
48 months
6 months
EUR
Currency| Amount | €9,800 |
| Interest | 3.25% |
| Maturity | 48 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Heng Sophat is married and lives with his wife and three employed children in Phnom Penh city. He has been working as construction foreman for about 15 years and sometime runs a motor-taxi service when he has free time from construction to earn as main income. He usually provides his construction service to charge only labor cost. This mean that the house owner is responsible for supplying construction materials, while his teams use labor. However, he sometime provides both labor and construction material services to earn more income. With this employment, he can employ about 10 men.
He is now asking for a loan to purchase more construction materials so that his teams can contract with bigger construction.
Local partner Kredit will provide this loan.
| Company name | Phillip Bank |
| CEO | Heng Sophat |
| Founded | 1990-01-01 |
| Location | Phnom Penh |
| Sector | Services |
| Turnover | €34,500 |
| Employees | 10 |
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 3 jobs are created
- With this investment 12 lives are improved
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We have already contributed to Heng Sophat
Jessy van der KroonPoul BrandsTon SchroerNettie StougjeJan Meijberg