Nhoeb Cheng
With a loan of EUR 2,550 Cheng is able to expand her beauty salon and increase her income.
€2,550
3.25%
36 months
6 months
EUR
CurrencyAmount | €2,550 |
Interest | 3.25% |
Maturity | 36 months |
Repayments | 6 months |
Currency | EUR |
Summary
Read the information document of the issuer here
Cheng is a 24-year-old, married mother and has one child. She lives in a village in the Kampong Cham Province in Cambodia. She earns her income from running a beauty salon and she has been doing the business for the past four years. Her husband is a driver.
Now, she would like to request a loan because she needs finances to expand her business, renovate her shop and add more materials for her beauty salon. With this loan, she will be able to buy more materials and improve her business.
Local partner Kredit provides the loan, which has to be repaid in 36 months.
Company name | Nhoeb Cheng |
CEO | Cheng Nhoeb |
Founded | 2013-01-01 |
Location | Kampong Cham Province |
Sector | Services |
Turnover | €13,050.84 |
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