Business Recovery Guarantee Scheme
The Business Recovery Guarantee Scheme (BRGS) is the first credit guarantee scheme offered by the Credit Guarantee Corporation of Cambodia Plc. (CGCC).
BRGS aims to support businesses including Micro, Small and Medium Enterprises (SMEs) and Large Firms to enhance their access to formal loans for both working capital and investment or business expansion. BRGS is in line with the policies of the Royal Government of Cambodia to support the survival and economic recovery during the COVID-19 pandemic.
BRGS acts as collateral/security for 70%-80% of the loan amount borrowed by businesses from the Participating Financial Institutions (PFIs); thus, reducing the physical collateral required from the borrowers.
Click here for : the official document of BRGS guidelines
BRGS Scheme Features
For loans to be qualified for the CGCC’s guarantee scheme, the borrowers must fall into the following criteria:
How to apply for BRGS?
1. Borrowers including micro, small and medium enterprises, and large firms need to apply for a loan under BRGS from any of the CGCC’s PFIs.
2. After evaluating and approving the loan, the PFIs submit a guarantee application for the loan to CGCC for guarantee. PFIs shall not disburse the loans before the guarantee application is approved by CGCC.
3. CGCC evaluates the guarantee application for the loan submitted by the PFIs. If the application is approved, CGCC will issue a Letter of Guarantee to the PFIs for the loan.
4. After the Letter of Guarantee is issued, the PFIs will disburse the Guaranteed Loan to the borrowers.
BRGS Process Flow
*Non-Priority Sectors are those sectors besides the sectors listed above. Non-Priority Sectors are also eligible for the BRGS.
Benefits of BRGS
Micro, Small & Medium Enterprise, and Large Firms
BRGS aims to support businesses including Micro, Small and Medium Enterprises (SMEs) and Large Firms to enhance their access to formal loans for both working capital and investment or business expansion. BRGS is in line with the policies of the Royal Government of Cambodia to support the survival and economic recovery during the COVID-19 Pandemic.
** The Scheme Features for SMEs are also applicable for the Micro-Enterprises
*** For clarity, BRGS defines SMEs as the definition provided under the Sub-Decree No. 124 ANKR.BK dated 2 October 2018 on the Tax Incentive for SMEs in Priority Sectors