Women Entrepreneurs Guarantee Scheme (WEGS)
WEGS, the third credit guarantee scheme offered by the CGCC, is the specifically designed for women and women-owned SMEs.
WEGS is specifically designed for women and women-owned businesses, aiming to narrow the gap between the supply and demand for financing by providing a higher guaranteed coverage of 80% and a lower guarantee fee for all sectors with favorable credit guarantee features.
Benefits of WEGS
- Supporting women and women-owned business survival and economic recovery during the COVID-19 pandemic in line with Government's policies
- Acting as collateral/security for 80% of the loan amount borrowed from the PFIs, making women-owned SMEs more bankable
- Helping women and women-owned businesses access to financing and improving financial inclusion in Cambodia
- Sustaining women and women-owned business operation during COVID-19 outbreak and providing capital investment for business expansion
- Serving as a policy tool for long-term growth of SMEs
- Diversifying and sharing risks with PFIs, allowing more loans to be approved for women-owned SMEs
Priority Sectors
Agriuculture
- Growing and cultivation of crops
- Livestock farming
- Aquaculture
Industry
- Agro-processing
- Food manufacturing and processing
- Waste recycling
- Production of goods for the tourism sector
- Manufacturing of local consumable goods
- Manufacturing of finished products, spare parts, or assembling parts
Services
- Transportation and logistics
- Digital and ICT
- Tourism
- Education
Noted: *Non-Priority Sectors are those sectors besides the sectors listed above. Non-Priority Sectors are also eligible for the BRGS.
Eligible Borrowers
For loans to be qualified for the Women Entrepreneurs guarantee scheme, the borrowers must fall into the following criteria:
The Borrower must produce a business registration issued by appropriate government authorities.
The Borrower must be a majority Cambodian-owned business (>50% ownership).
The Borrower who is a non-registered business must proceed with the registration after the guarantee is approved. If the borrower remains a non-registered business, an additional guarantee fee of 0.5% per annum of the guaranteed amount will be imposed on every anniversary of the guarantee.
All Borrowers should be financially viable
The Borrower must be women or women-owned Micro, Small and Medium Enterprises (MSMEs), any MSMEs that meet at least two of the following criteria:
How to apply for WEGS?
Entrepreneurs guarantee scheme, the
borrowers must fall into the following criteria:
Step 1:
Women and Women-Owned SMEs Borrowers need to apply for a loan under WEGS from any of the CGCC’s Participating Financial Institutions (PFIs).
Step 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.
Step 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.
Step 4:
After the Letter of Guarantee is issued, the PFIs will disburse the Guaranteed Loan to the borrowers.
WEGS Scheme Features
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