ACLEDA branch manager Vann Sarouen
ONE of the major problems facing any business is gaining access to affordable finance. Formed in 1993, ACLEDA Bank specialises in making small and micro-loans. Its average loan is about US$3,000 in Siem Reap Province.
Many of the bank’s 14,668 clients throughout the province are involved in the tourism industry, although the loans have an indirect benefit on the province’s economy as a whole, says Branch Manager Vann Saroeun.
“If more tourists come, the economy improves,” he says.
Vann Saroeun attributes the bank’s high loan repayment rate of 99.4 percent to the due diligence carried out by his staff when initially considering loan applications. “Before we finance a fund, we do a loan assessment and our staff prepare a business plan and discuss it with potential clients,” he says before adding that most clients subsequently increase the size of their loans.
Since mid-2010, loans have increased from $5 million per month to $6.5 million, according to Saroeun, who expects the trend to continue beyond $7 million. The bank also has about 120 new clients each month.
Pachhorvy Kannary, 39, has banked with ACLEDA since 1994. She has borrowed money to extend her Apsara dancing group, Leaproth Apsara, on several occasions. Last year she received a further loan of $35,000 to set up a new business preparing weddings.
“I did not have enough money to buy very expensive clothes and robes for grooms and brides, so I had to go to the bank to borrow some money,” she says.
Business is going well. Kannary receives bookings for about 10 wedding ceremonies each month and her six dancing groups perform at many hotels in Siem Reap.
Many of the bank’s 14,668 clients throughout the province are involved in the tourism industry, although the loans have an indirect benefit on the province’s economy as a whole, says Branch Manager Vann Saroeun.
“If more tourists come, the economy improves,” he says.
Vann Saroeun attributes the bank’s high loan repayment rate of 99.4 percent to the due diligence carried out by his staff when initially considering loan applications. “Before we finance a fund, we do a loan assessment and our staff prepare a business plan and discuss it with potential clients,” he says before adding that most clients subsequently increase the size of their loans.
Since mid-2010, loans have increased from $5 million per month to $6.5 million, according to Saroeun, who expects the trend to continue beyond $7 million. The bank also has about 120 new clients each month.
Pachhorvy Kannary, 39, has banked with ACLEDA since 1994. She has borrowed money to extend her Apsara dancing group, Leaproth Apsara, on several occasions. Last year she received a further loan of $35,000 to set up a new business preparing weddings.
“I did not have enough money to buy very expensive clothes and robes for grooms and brides, so I had to go to the bank to borrow some money,” she says.
Business is going well. Kannary receives bookings for about 10 wedding ceremonies each month and her six dancing groups perform at many hotels in Siem Reap.
1 comment:
Why do Kos Trol, sea and lands proximately over 10 000 km2 have been lost to Vietnam by who treaty? Why don't Cambodia goverment transparency explain to cambodia army at front line and the whole nation about this? Why don't they include this into education system? Why?
Cambodian army are fighting at front line for 4.6 km2 and what's about over 10 000km2 of cambodia to Vietnam. Nobody dare to talk about it! Why? Cambodian army you are decide the fade of your nation, Cambodian army as well as cambodian people must rethink about this again and again. Is it fair?
Kos Trol, Sea and lands over 10 000km2 have been lost to Vietnam by who treaty at 1979 to 1985 treaty! treaty! Cambodian army at front line as well as all cambodian people must rethink again about these issues. Are cambodian army fighting to protect the Cambodia Nation or protect a very small group that own big lands, big properties or only protecting a small group rather in the real name of protecting khmer nation?
Cambodian army at front line suffer under rain, wind, bullets, bombs,lack of foods, lack of nutrition, their families have no health care help, no securities after they die but a very small group eat well, sleep well, sleep in first class hotel with air conditioning with young girls message, have super health care from oversea medical treatment, they are billionairs, millionairs who sell out the country to be rich and make cambodian people suffer everyday as cambodian people know already.
Who signed the treaty 1979-1985 that result lost over 10 000 km2 of Cambodia??? Why don't they transparency inform all Cambodian and cambodian army at front line about these issues? Why don't include Kos Trol ( Kos Trol size is bigger than the whole Phom Phen with planty of natural resources ) in education program?
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