Yong Sean
With a loan of EUR 7,650 Yong will be able to purchase cashew nuts from farmers and resell to whole sellers.
€7,650
3.25%
36 months
6 months
EUR
CurrencyAmount | €7,650 |
Interest | 3.25% |
Maturity | 36 months |
Repayments | 6 months |
Currency | EUR |
The project
Sean Yong is married and lives with her husband and 1 children in Prey Veng province. She grows rice, lotus and trades cashew nuts to earn as a main income to support her family. She has 3 hectares of farmland growing rice and she is able to collect about 12 tons for sell to make profit per year. She is now requesting for a loan to purchase cashew nuts from farmers and resell to whole seller. She believes that this investment will increase her family income.
Company name | Phillip Bank |
CEO | Yong Sean |
Founded | 2000-01-01 |
Location | Prey Veng |
Sector | Wholesale / Retail |
Turnover | €17,369.49 |
Employees | 4 |
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