March 24, 2011

Licensed pawn shop starts to thrive

THE largely empty shelves and relative quiet yesterday in Cash-U-Up, a pawn shop at PGCT Center on Phnom Penh’s Street 274, betrays what has become a thriving business in the few short months since it first opened.

Between last August and now, the company has managed to grow its loan portfolio to US$1 million, and management is shooting for between $3 million and $4 million by the end of 2011.

Those are strong numbers for an industry that became licensed in Cambodia only in 2010. Cash-U-Up was the fourth pawn shop to be licensed in the Kingdom.

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