Life Improvement Loan Asset

The Life Improvement Loan Asset Backed (LILAB) provides clients with opportunities to get the loan for purchasing moveable assets such as motorbike, tricycle, car, generator, or agriculture machinery, heavy machinery etc. with reasonable interest rate and loan term. LOLC accepts the purchased assets or existing asset as collateral to guarantee the loan. This loan enables clients who have regular income from salary or business, services or other legal sources of income and require buying moveable assets to use for personal in household or for business. Throughout the provision of this product, LOLC is able to expand its market shares, increase income and maintain its sustainable operations.


LOLC’s Life Improvement Loan Asset Backed offers clients a number of key benefits:

  • A reasonable interest rate, calculated based on outstanding balance.
  • Convenient option to apply for a loan and repay loan at the nearest LOLC office or any money transfer agencies which incorporated with LOLC.
  • Flexible loan terms that are catered to your need.

LILAB is designed for adapting to the needs of our clients by allowing several options of repayment mode:

  • Annuity,
  • Flexible annuity, or
  • Semi-balloon (monthly interest repayment and the principal repayment based on cash flow analysis and mutual agreement),

Requirement:

  • Be a majority aged 18 to 70 years old
  • Permanent resident
  • Have a legal business and regular income
  • Have a good record and be reliable
  • Have enough capacity to repay the loan
  • ID card and family book, or resident book, or birth certificate
  • Agree to the loan term & conditions.
Currency Loan SizeInterest Rate Per MonthLoan Term
USD
up to 50,000
reasonable interest rate
3 – 60 months

Note: Loan enquiry more than $50,000 is available negotiation. Loan terms can be offered up to 72 months for car with series at least 17 years before current year from year of manufacturing.


Fee:

Processing fee is charged from 1% - 1.5% per cycle. Insurance and administration fee is charged from USD 10 – USD 50 per month.  

Prohibited Activities of LOLC (Cambodia) Plc.

  1. Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements, including without limitation host country requirements related to environmental, health and safety and labor aspects.
  2. Production or trade in weapons and munitions.
  3. Production or trade in alcoholic beverages (excluding beer and wine).
  4. Production or trade in tobacco.
  5. Gambling, casinos and equivalent enterprises.
  6. Trade, production, breeding or possession of animals, plants or any natural products in breach of the provisions of CITES*.
  7. Production or trade in radioactive materials.
  8. Production or trade in or use of unbonded asbestos fibers.
  9. Commercial logging operations or purchase of logging equipment for use in primary tropical moist forest.
  10. Production or trade in pharmaceuticals subject to international phase outs or bans.
  11. Production or trade in pesticides/herbicides subject to international phase outs or bans.
  12. Drift net fishing in the marine environment using nets in excess of 2.5 km. in length.
  13. Production or activities involving harmful or exploitative forms of forced labor/harmful child labor.
  14. Production or trade in products containing PCBs **.
  15. Production or trade in ozone depleting substances subject to international phase out.
  16. Production or trade in wood or other forestry products from unmanaged forests.
  17. Production, trade, storage, or transport of significant volumes of hazardous chemicals, or commercial scale usage of hazardous chemicals. Hazardous chemicals include gasoline, kerosene, and other petroleum products.
  18. Production or activities that impinge on the lands owned, or claimed under adjudication, by Indigenous Peoples, without full documented consent of such peoples.
  19. Business activities that could cause the land dispute, land loss, the loss of land possession, land use restriction, not allowing for residential enjoyment or other business operations thereon, and business activities that could cause evacuation and involuntary resettlement.
  20. Any business relating to pornography or prostitution.
  21. Persistent Organic Pollutants (POPs); GHG emission, Carbon (Co2), water pollution and ground water contamination.
  22. Plantation projects that would require the removal of existing non-degraded natural forest.
  23. Cross-border trade of waste, except those authorized by the Basle convention and its underlying regulations.
  24. Business activities involving the production or generation of significant amount of solid and liquid/water waste.
  25. Business activities that could cause hug explosion, hug dust, smoke, disturbing noise, causing adverse effect the safety and security of daily work, and living of people in the surrounding area.
  26. Business activities involving the use of high volume of electricity/power, paper or water that could cause interruption to the neighboring community. Business activities that seen overexploitation natural resources.
  27. Production and distribution or participation to racist, anti-democratic media or media advocating discrimination of one part of a population.
  28. Sector with little linkage effects, high risks and /or subject to speculation, e.g. Real Estate.
  29. Production or services, which cause recognized and serious damage to the natural environment and are forbidden under the laws of Cambodia for that reason.
  30. Projects involving the construction of large dams that significantly and irreversibly***.
  31. Projects in, impacting, or cause the loss of natural World Heritage Sites such as memorial/worship/holy site, farmland, village or community.
  32. Projects in or impacting areas on the United Nations List of National Parks and Protected Areas.
  33. Extraction or infrastructure projects in or impacting: protected area Categories I, II, III, and IV as defined by the International Union for the Conservation of Nature.
  34. Activities that could cause Significant Environmental Harm; that could cause the loss of living thing, loss habitats to the life of   rare species and common species. Business activities could cause the rising of unfriendly species, invasion of alien species,   epidemic disease/cholera.
  35. Located in or sufficiently near sensitive locations of national or regional importance to have perceptible environmental impacts.
  36. Giving or receiving gifts that could be interpreted as intending to influence business decisions.
  37. Making political contributions, i.e., to political parties or candidates. 
  38. Abusing confidential or material, non-public information. 
  39. Financial or economic crime, including involvement in money laundering.
  40. Illegal or deceitful recording and reporting of financial and/or tax information.
  41. Business transactions where the price for goods or services is set artificially high or low.
  42. Any equipment, sector, or service subject to economic sanctions issued by the United Nations, the European Union or France, without absolute or relative restriction regarding the amount.
  43. Illicit trade or activities that facilitate the illicit traffic of cultural property.
  44. Illicit activities involving organs, tissues and products of the human body, or genetic engineering activities banned by the national bioethical standards of France or of the host country, and by relevant applicable European or inter national standards.
  45. Projects whose purpose and/or approach are inconsistent with human rights, and in the case of private sector financing, projects underpinned by rationales that clearly contradict the United Nations Guiding Principles on Business and Human Rights.
  46. All fossil fuel power generation (below 500 tons included).

How to apply:

To apply for loan, client shall follow these simple steps:

  • Talk to a LOLC staff in your area or at the nearest LOLC office or via call center 023 991 991.
  • Request a specific amount and term based on your needs.
  • Customer can also Apply loan here

How to Apply for Loan


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Need to loan advies? Talk to our loan advisors.

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(+855) 23 991 991 



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