Sokpan
With a loan of EUR 5,400 Sokpan is able to grow his business as a grocery wholesaler.
€5,400
4.00%
36 months
6 months
EUR
CurrencyAmount | €5,400 |
Interest | 4.00% |
Maturity | 36 months |
Repayments | 6 months |
Currency | EUR |
The project
Mr. E Sokpan, 34, is married and lives in the Tboung Khmum Province of Cambodia with his six children. He is a grocery wholesaler, and he has been transport groceries from the trader to resell to the seller in the village and nearby village for about three years. And his wife has been selling groceries at home to earn additional income to support the family.
He is now asking for a loan to enlarge his business by purchasing more
groceries to sell. He sees this purchase will allow him to increase his
income and raise his family standard of living.
Company name | Phillip Bank |
CEO | Sokpan E |
Founded | 2014-01-01 |
Location | Tboung Khmum Province |
Sector | Wholesale / Retail |
Turnover | €54,825 |
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 2 jobs are created
- With this investment 8 lives are improved