CambodiaLuon Tey
With a loan of EUR 2,550 Tey is able to purchase more pigs for her farm and thus increase her family income.
€2,550
3.25%
30 months
6 months
EUR
Currency| Amount | €2,550 |
| Interest | 3.25% |
| Maturity | 30 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Luon Tey, 37, is married and lives in the Kampong Cham province with her two children. She and her husband work together in the farm, they raise pigs and cultivating rice, which they have been doing for the past 10 years.
Now she would like to expand her business for additional income. With this loan Tey can purchase more pigs for her farm. She sees this loan as a good economic decision and believes she can both increase her income and raise her standard of living with the purchases.
Local partner Kredit provides the loan, which has to be repaid in 30 months.
| Company name | Phillip Bank |
| CEO | Tey Luon |
| Founded | 2007-01-01 |
| Location | Kampong Cham Province |
| Sector | Agriculture |
| Turnover | €6,508.47 |
| 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 1 job is created
- With this investment 4 lives are improved