A compact hole punch device includes a generally vertical entry paper slot with an elongated handle hinged at one end of the punch device extending toward the opposite end of the device along side the paper slot. A chip chamber extends along the punch device opposite the slot from the handle. A roller cam mechanism concentrates forces in a small area of the device to provide a very compact, rigid action. An elongated chip tray is pivotably attached to the chip chamber including a lowered position where chips are easily emptied out an open distal end of the tray.