LOLC PLC is a rapidly growing financial organisation that focuses on small entrepreneurs in both rural and urban areas. LOLC was founded in 1994 by the Catholic Relief Services (CRS) to provide women from rural areas with access to microcredit, but it has since expanded its audience.
Anyone who says LOLC says “social”. This MFI was the first institution in Cambodia to receive the SMART certificate, a recognition of its efforts to integrate the principle of “clients first” into its operation very actively. This organisation proves that strong growth and good financial results can go hand in hand with good social performance. The average credit is just under EUR 1,000. BRS Microfinance Coop decided to extend the loan of USD 1.6 million (EUR 1.4 million), which matured in May 2020, for three years and to increase it to USD 2 million.