Phillip Bank 17 (KREDIT Cambodia)
With a loan of EUR 41,000 Phillip Bank (before Kredit Cambodia) will be able to provide working capital to 6 entrepreneurs, so they can further expand their companies.
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).
With this investment Phillip Bank will be able to finance the following 6 entrepreneurs:
- Chhery Sokkea (28) is a cassava farmer. She is requesting a new loan to purchase farm items and she wishes to boost her working capital.
- Tep Chet (40) is a bamboo seller in his community and he’d like to take a loan to purchase more bamboo to resale.
- Heng Pheara (28) has a vehicle repair shop, he is taking a loan to buy the vehicle repair supplies to stock in his store.
- Chhon Navy (30) has a phone shop and he’d like a loan to invest in a Tuk Tuk service in his community.
- Sok Kimheang (48) is a traditional spagitti khmer seller in the market and she’d like to take a loan for her son to buy a new car for his Taxi provider service.
- Sman Noutsoupfiyany (28, see picture) is a shoes seller in the market at Phnom Penh Cambodia. She is wishing to boost her working capital and by more stock.
|Company name||Phillip Bank 17 (KREDIT Cambodia)|
|Sector||Manufacturing / Production|
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.
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 2 jobs are created
- With this investment 30 people are reached