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.
|Currency||Loan Size||Interest Rate Per Month||Loan Term|
|KHR||up to 8,000,000||reasonable interest rate||3 – 48 months|
|USD||up to 2,000||reasonable interest rate||3 – 48 months|
|THB||up to 80,000||reasonable interest rate||3 – 48 months|
Processing fee is charged from 5%-8% per cycle.
Be a majority aged 18 to 65 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, passport, family book, resident book, and/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.