KARPRAK

Karprak.com is Cambodia’s first online P2P lending platform, designed to facilitate low-cost loans for borrowers while increasing the return and managing risk for the lenders. Karprak.com combines traditional lending practices with social networking to create the platform where borrowers and lenders transact. Borrowers benefit from lower rates and lenders get higher returns with optimized risk. Borrowers can apply for loans anywhere between 100usd – 10,000usd and maximum period of 5 years. ... The minimum interest rate offered is 12%. Lenders can offer anywhere between 100usd – 10,000usd and can lend to multiple borrowers. Karprak.com operates in a typical 2-sided market consisting of borrowers and lenders. Both sides consist of real people. Karprak.com is a platform which brings borrowers and lenders together using the internet to reduce costs and friction. Karprak.com also adds value by verifying the borrower and documenting the loan transaction. Karprak.com’s implementation of the P2P lending model also helps lenders manage risk by providing credit inputs regarding the borrower and the lenders can lend a part of the loan requirement of borrower thus limiting the risk of default on any particular borrower. On karprak.com, borrowers can put up a loan request (after a two-stage approval process which includes physical verification of address, employment, ID and income proof) for a particular tenure and indicate the interest they are willing to pay. They can approach lenders or lenders may approach them and the loan is then agreed upon & closed on karprak.com platform. One loan request of a borrower can be met by multiple lenders.More