Chhuon Chanthol
With a loan of EUR 4,800 Chhuon is able to expand the variety of products of her small grocery store.
The project
Mrs. Chhuon Chanthol is married and lives with her husband and three children in Kampong Cham province. She and her husband have been selling groceries and rooms rental service as her additional income to support her family for about two years.
She is now request for a loan to purchase more groceries for their store and build eight rooms to rent. She believes that with the loan, the expansion of her business will bring about an increased income and a higher standard of living.
The loan must be repaid in 36 months.
Phillip Bank
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.
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