Overseas Expansion

LOLC ASKI Finance Inc.

In December 2018, LOLC Group partnered with ASKI Group as majority shareholders of LOLC ASKI Finance Incorporated. LOLC ASKI Finance Incorporated will leverage on synergies facilitated by Alalay sa Kaunlaran Microfinance Social Development, Inc. (ASKI), and will exist to provide innovative solutions to SME clients within the strong eco-system of the ASKI Group. The outlook for growth will be judicious and operations will be centralised, utilising a low cost model which will share the existing branch network of ASKI’s microfinance market. LOLC ASKI Finance will cater to clients migrating to incremental loans from the ASKI network as well as non ASKI clients, subsequent to a careful screening process. ASKI has a network covering 82 locations, serving more than 100,000 clients and insuring more than 700,000 members and their families. Over the years, LOLC has functioned as a catalyst in transforming communities to step up livelihoods, revolutionised industries through increased mechanisation, contributed to GDP by fuelling economic activities in the countries which it operates, and above all, uplifted societies through its sustainable inclusive financing approach. This partnership will create a larger threshold for budding micro-entrepreneurs seeking to graduate up the ranks, beyond the constraints of microfinance and create a more meaningful impact in their communities by expanding their businesses.