Group Loan (GL) aims to help clients run and to grow their micro or small businesses. The target clients should have or operate a micro or small business and require up to 8,000,000 riels or its equivalent for working capital or acquisition of fixed assets. Prospective clients are encouraged to form joint-liability groups of 2-7 members among their community members with similar needs and apply for a GL.

LOLC’s Group Loan offers clients a number of key benefits:

• No requirement of physical collateral,
• Convenient option to apply for and repay the loan at nearest LOLC office or at your community or any money transfer agents which has been incorporated with LOLC,
  
• A reasonable interest rate, calculated based on outstanding balance,
  
• Flexible loan terms and repayment plan that adapt to your personal or business need,
  
• Easy and flexible group formation.
  

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

• Fixed installment (monthly interest and principal repayment),
• Semi-balloon (monthly interest repayment and the principal repayment based on cash flow analysis and mutual agreement),
  
• Balloon (monthly interest repayment and the principal payment at the end of the contract),
• Annuity, or
• Flexible annuity.
  

Requirement:

• Be a majority aged 18 to 70 years old
  
• Create a joint-liability ranging from 2 to 7 members per group with the selection of a group leader.
• Permanent resident
• Similar purpose in using a loan   
  
• Have a legal business and regular income
• Have a good record and be reliable
• Have enough capacity to repay the loan
• Have ID card and family book, or resident book, or birth certificate
• Have agreed to the loan term & conditions.
  

How to apply:

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

• Talk to LOLC staff in your area or at the nearest LOLC office or group leader in your area, or via call center 023 991 991.
• Request a specific amount and term based on your needs.