Short Term Loan

Short-Term Loan (Non-consumable Loan)

This loan has been arranged to enable small retailers and individual with regular income and have collateral asset to purchase necessities or consumable items and personal spending in short-time period.

Product design

Currency type

Loan size

Interest rate

Loan term

Repayment type

USD or KHMER Riel

Up to $2000.00

 

3% per month

Up to 12 Months

Monthly interest and principal installment payment

     Collateral :

  • Loan Size up to USD1,000.00 must have Moto/Car registration card/house, land, shop title as collateral.
  • Loan size over USD1,000.00 to USD2,000.00 must have house, land, shop title as collateral without making hypothec contract.

      Disbursement and repayment:

  • At office of the MFI
  • Client’s house
  • Transfer via E-money, Wing...

 

Client’s criteria to get loan

  •  Legitimate individual aged from 18 year old.
  •  Have specific business or job.
  •  Have specific address or resident.
  •  Have personal telephone that can contact all time.
  •  Have good character and willingness to repay loan.
  •  Have not involved with any crime.
  •  Have co-borrower or guarantor.

Document Requirement

  •  Documents identify borrower and co-borrower such as ID card, passport...
  •  Documents identify address of borrower and co-borrower such as family book, resident book...
  •  Labor Card for staff/worker of the company/garment.
  •  Photo of borrower and co-borrower.

Other Requirement

  •  Must repay timely following schedule repayment.
  •  Must pay penalty on late repayment.
  •  Must agree all points in loan contract and make thumbprint in front of credit officer.
  •  Ensure to provide information and all related documents accurately, sufficiently, legally when the MFI needed.
  •  Must have collateral such as Moto or Car registration card, land title or house or shop...
  •  Have co-borrower such as spouse, guardian, or person who was accepted by the MFI and need guarantor if any.
  •  Co-borrower has to acknowledge loan borrowed by borrower. In case borrower have not paid repayment following schedule payment timely, Co-borrower have to :
    •  Reimbursement instead of borrower.
    •  Accept for selling personal or family wealth to repay loan of borrower.
    •  Accept to repay loan instead of borrower when borrower died or escape.

Repayment Condition

Client can repay apart or full amount of loan at early maturity date. If repayment amount over installment, the surplus amount will be kept in client’s account to offset the next installment. If client pay off the loan, The MFI will charge the remaining interest as following:

  •  Pay off within 10% of loan term, the MFI will charge 20% of the remaining interest.
  •  Pay off over 10% to 30% of loan term, the MFI will charge 10% of the remaining interest.
  •  Pay off over 30% to 50% of loan term, the MFI will charge 05% of the remaining interest.
  •  Pay off over 50% of loan term, the MFI will not charge the remaining interest.
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