PHNOM PENH, [August 25,
2021] – In our continuous support of the government and the Cambodian
businesses to restore the economy from the Covid-19 pandemic, Prince Bank now join
hands with Small and Medium Enterprise Bank of Cambodia (SME Bank) to implement
the SME Co-Financing Scheme Phase II as a source of financing SMEs in Cambodia.
The SME Co-Financing
Scheme is a program that provides support to local SMEs in terms of financing
by offering affordable loan rates and favorable loan terms & conditions.
Back in mid-October 2020, the SME Co-Financing Scheme (SCFS) phase I have
successfully approved loans worth USD 100 million with interest rate capped at
7% to 753 SMEs.
Mr. Honn Sorachna, CEO of
Prince Bank Plc. states that “Local SMEs make a significant contribution to a
sustained and equitable development of the Cambodian economy. However, during
these two years of undergoing the challenges caused by the COVID-19 pandemic, the
SMEs sector hasbeen facing difficulties in expanding and/or maintaining their business
operation due to the lack of financial supports, struggles to apply for loans,
and high-interest rates. As our vision is to provide the best financial
solution and to be the financial institution of choice for our customers, we
are delighted and looking forward to our continuing support for this financing
program with the cooperation with SME Bank”. We hope this SME Co-Financing
Scheme Phase II can help our country’s economic recovery and to help our
business clients to achieve their business goals, says Sorachna.
"I strongly believe
that the fund will be utilized quickly, to ease SMEs with financial
difficulties, to resume their business to contribute to the economic recovery.
I sincerely thank and acknowledge Prince Bank and all the PFIs for their
continued collaboration in this SCFS II." Says Mr. Lim Aun, CEO of SME Bank.
Under the SME
Co-Financing Scheme phase II, any SMEs that apply for SME loan at Prince Bank
will enjoy the special interest rate from 6.5% p.a. with a maximum loan size up to
USD 500,000 and loan tenure of up to 7 years.
Prince Bank is ready to
serve new and existing business clients with this SME loan under the SME
Co-Financing Scheme as well as the general loan products.
You can apply for loan
through 32 branches of Prince Bank Plc. nationwide or call 1800 20 8888 today
to consult with the loan specialist of Prince Bank Plc. (Toll-free).