With business experience of pawn shop more than 40 years in Singapore Cash-U-Up expand its business in the Cambodia, with participation from Cambodian investors and Singapore. Cash-U-Up has 40-year-experience in Singapore. Now they opened the first shop in Cambodia as a joint venture with their Cambodian partner, Vestal Holdings. Pawn shops are very popular in the Asian countries, especially among
the people with lower income. They do not require complicated paper works like a bank. If you need, you can get money quickly. There is pawn business in Cambodia, too. But most of them are not registered ones. Those un-registered pawn shops may cause some problems or inconvenience for the customers. But it is difficult for the authority to regulate them because they are not registered. But Cash-U-Up is different. It is the fourth registered pawn shop in Cambodia. It offers lower interest rate than unregistered ones. Cash-U-Up offers 2 to 3% per month, while other unregistered offers 5 to 8% in average. At the same time, it is very important for Cash-U-Up shop to promise security for the customers. They protect the items the customers brought for sure. Since their opening in the last July, their loan portfolios grew to 1 million dollars. One customer borrows 100 to 200 dollars for one time. They accept personal computer, mobile phones, diamond, TV or motor bikes. 90% of the customers are men between 20 and 40 years old. They seem to use the money for both living and business expenses. Mr. Steven Lam, the partner for Cash-U-Up, said that he wanted to contribute to the development of this country by helping the people with lower income or for the small and medium business. “Feeling of security and trust is the most important for this business. We care it,” he said.
