funding gap emerging markets
Cambodia

Toek Phorn

  • Phillip Bank
  • Local partner investment
  • + 5 other investors
  • With a loan of EUR 2,550 Phorn can buy a new Tuk Tuk for the business of her son and increase the family income.

    €2,550
    Amount
    3.25%
    Interest
    36 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€2,550
    Interest3.25%
    Maturity36 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 1 day on 18 November 2017.
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      Summary

      Read the information document of the issuer here

      Phorn, 58 years old, is a woman who lives in the province of Prey Veng in Cambodia. She works on her rice farm and sells porridge since 1984. One of her children has a little business as a Tuk Tuk (motor taxi with trailer) taxi driver.


      With this loan she can replace the Tuk Tuk of her child for a new one. With this investment the Tuk Tuk business of her kid can grow as well as her family income.

      Local partner Kredit provides this loan with a maturity of 36 months. 

      Company nameToek Phorn
      CEOPhorn Toek
      Founded1984-01-01
      LocationPrey Veng
      SectorServices
      Turnover€13,640.67
      Employees1

      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.

       

      Related blog articles

      Read more here on how every Phillip Bank project that appears on our platform invests in several local entrepreneurs. 

      • With this investment 1 jobs are created
      • With this investment 4 people are reached

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      We have already contributed for Toek Phorn

      Gerard de Jong
      Piet van der Kooi
      + and another
      5
      investors