Meeting iCare

iCare Benefits Cambodia (iCare) provides an innovative financing solution for affordable quality products and services to low-income clients. Its target market are the employees of Cambodian garment factories, and its primary products are essential home appliances and electronics – consumer products which make their clients’ lives easier and more enjoyable. In the near future, iCare plans to extend its range of merchandise to basic healthcare and education products. iCare clients purchase products from iCare at market price and on credit with 0% interest for a maximum loan term of six months. Items are delivered directly to clients within five days of purchase. iCare’s business model is based on gaining volume discounts from local suppliers. This profit margin is then used to cover costs, including the provision of interest-free loans for iCare clients, and grow the business further.

iCare sets up small booths at partnering garment factories during the lunch breaks of the workers. This is where the iCare sales personnel presents the catalogue of available items, takes and delivers orders, and explains the financial conditions to make a purchase.  iCare clients are allowed to purchase products costing up to 1.8x their monthly salary. The repayments are then taken directly out of their pay check but cannot exceed 30% of their monthly salary. iCare’s innovative financial solution, together with its basic financial literacy training, gives its clients the opportunity to take a responsible first step towards financial inclusion.

Learn about the situation in Cambodia and the developmental contributions of iCare in the local context.