Phillip Bank 16 (KREDIT Cambodia)
With a loan of EUR 44,850 Phillip Bank (before Kredit Cambodia) will be able to provide working capital to 7 entrepreneurs, so they can further expand their companies.
€44,850
3.00%
48 months
6 months
EUR
CurrencyAmount | €44,850 |
Interest | 3.00% |
Maturity | 48 months |
Repayments | 6 months |
Currency | EUR |
The project
Given the current situation regarding COVID-19, there is increased uncertainty. Although Phillip Bank is in good shape and agreements have only recently been made with regard to interest and maturities, it is wise to be careful with your investments.
Phillip Bank Plc is a member of PhillipCapital, an integrated Asian financial house based in Singapore, but operational in 15 countries, including offices in Australia, Cambodia, China (and Hong Kong SAR), France, India, Indonesia, Japan, Malaysia, Singapore, Thailand, Turkey, UK, UAE, USA and Vietnam.
Phillip Bank Plc commenced business in Cambodia in 2009. In 2019, they merged with Lendahand's partner Kredit (an MFI focused providing financial services and training to low-income earners).
Information document issuing entity (NL)
Information note issuing entitiy (BE)
With this investment Phillip Bank will be able to finance the following 7 entrepreneurs:
- Poeu Senoun wishes to take a loan to invest in a new business for her husband to open a blacksmith shop and purchase supplies like irons and metals
- Kong Phally (picture) is a grocery seller at Kandal Province of Cambodia. She is requesting a loan to expand her business and boost her working capital.
- In Dorn (52) and would like to purchase more grocery supplies, drinking water, sugars and other input needed to stock in her store
- Top Poue (33) is a woman who has a rice farm and she would like to take a fund for purchasing more land to plant more rice paddy
- Thay Hakrith (31) has a rice farm as well and she would like to take a fund for purchasing more land to plant more rice paddy
- Un Vich (59) has a canteen shop and she wants to purchase more products like pork and beef to resale
- Soung Chaning (34) has a rice farm and she’d like to purchase more land to plant the rice paddy
Company name | Phillip Bank |
CEO | Phally Kong |
Founded | 2009-01-01 |
Location | Phnom Penh |
Sector | Wholesale / Retail |
Turnover | €80,314 |
Employees | 7 |
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 35 lives are improved