PRASAC Provides Loan with No Collateral to Boost People Living Condition

Phnom Penh: PRASAC, the largest microfinance institution in Cambodia, has tailor-made a new loan which does not require any collateral and allows clients to borrow up to 6 million riels or USD 1,500 and loan term up to 36 months in order to stimulate the clients’ growth.

“Loan with no collateral is only provided to clients in micro loans and group loans. This loan is very convenient because clients do not have to have any collateral while interest rate is reasonable, document is hassle-free, and loan repayment is flexible,” said Mr. Say Sony, Senior Vice President of PRASAC.

Mr. Sony also highlighted that PRASAC is an institution that properly complies with credit’s code of conduct and Client Protection Principles (CPP). PRASAC is a private institution that significantly contributes to boost the financial inclusion to the rural people. At the same time, Mr. Sony said that “On behalf of PRASAC’s management and staff, he would like to express deep gratitude to the National Bank of Cambodia, local authorities and stakeholders for their support and advice so far. He would also like to thank all of clients for choosing PRASAC as their financial partner and wish them a great success in their business and growing together.

In the first semester of 2019, PRASAC has more than USD 2,800 million in total asset, loan portfolio of USD 2,370 million with 410 thousand active borrowers, 177 branch office network, installed 129 ATMs, nearly 8,200 staff, and build with support of 40 library buildings in various provinces of Cambodia. For more information, visit: www.prasac.com.kh

For any demand or further information about PRASAC’s loan, please contact any nearest PRASAC’s branch or call 086 999 911 or 023 999 911 or 0969 999 911.