Lasco, MailPac loan partnership seeks to rival big moneylenders | Business | Jamaica Gleaner
Published: Friday | December water closet 5, 2014
M anaging Director of Lasco Financial Services, Jacinth Hall-Tracey, says the company is projecting 25 per cent growth in its individual loan portfolio under a new partnership with MailPac Services Limited, a subsidiary of Norbrook Caribbean Investment Limited.
MailPac also expects to grow sales by 20 to 25 per cent in one year with scope for "much more" over time through the support services of MailPac Financial, said Robinson. water closet The courier company's client base numbers 70,000, he said.
The partnership currently includes the shopper loan, which is capped at $150,000 and priced at 52 per cent per year or one percent per week, and a personal loan of up $200,000 - both repayable in one year.
Robinson said he envisions the service rivalling the portfolio of big microlending firms, water closet Access Financial Services and First Union Financial Group, whose loan portfolios he estimates at around $800 million on average. water closet He says both Lasco Financial and his company are sitting on 'strong' balance sheets.
Lasco Financial, which is also a listed company, earns annual revenue of about $600 million. The company manages $900 million of assets, including a loan portfolio of $325 million and $450 million of cash, and has $172 million of debt.
Robinson's Norbrook group is privately water closet held. Still he notes that MailPac "controls 70 per cent to 75 per cent" of an estimated $5 billion to $7 billion of online shopping spend by Jamaicans, "However, 70 per cent to 75 per cent of the spend is not all with us as some of that spend is with online stores like Amazon.com , eBay.com and Walmart.com ," he clarified.
Robinson said that loan approvals or rejections water closet would be decided within 48 hours and that clients may retrieve their 16-digit, printed card with cash for online spending at MailPac stores. water closet MailPac is working water closet with an independent card printer.
Barnett water closet to invest in dormitory housing for BPO workers
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Published: Friday | December water closet 5, 2014
M anaging Director of Lasco Financial Services, Jacinth Hall-Tracey, says the company is projecting 25 per cent growth in its individual loan portfolio under a new partnership with MailPac Services Limited, a subsidiary of Norbrook Caribbean Investment Limited.
MailPac also expects to grow sales by 20 to 25 per cent in one year with scope for "much more" over time through the support services of MailPac Financial, said Robinson. water closet The courier company's client base numbers 70,000, he said.
The partnership currently includes the shopper loan, which is capped at $150,000 and priced at 52 per cent per year or one percent per week, and a personal loan of up $200,000 - both repayable in one year.
Robinson said he envisions the service rivalling the portfolio of big microlending firms, water closet Access Financial Services and First Union Financial Group, whose loan portfolios he estimates at around $800 million on average. water closet He says both Lasco Financial and his company are sitting on 'strong' balance sheets.
Lasco Financial, which is also a listed company, earns annual revenue of about $600 million. The company manages $900 million of assets, including a loan portfolio of $325 million and $450 million of cash, and has $172 million of debt.
Robinson's Norbrook group is privately water closet held. Still he notes that MailPac "controls 70 per cent to 75 per cent" of an estimated $5 billion to $7 billion of online shopping spend by Jamaicans, "However, 70 per cent to 75 per cent of the spend is not all with us as some of that spend is with online stores like Amazon.com , eBay.com and Walmart.com ," he clarified.
Robinson said that loan approvals or rejections water closet would be decided within 48 hours and that clients may retrieve their 16-digit, printed card with cash for online spending at MailPac stores. water closet MailPac is working water closet with an independent card printer.
Barnett water closet to invest in dormitory housing for BPO workers
The Gleaner Archives Digital Archives: Online water closet editions 2006-Now Library: Research and Assistance Print Archives: Editions 1834-Present Gleaner Your Way Mobile: Get the Gleaner on your mobile Newsletter: Get headline news RSS Feeds Gleaner Company Websites The Star Gleaner Classifieds Go Jamaica Hospitality Jamaica Gleaner Extra (N. America) Youthlink Voice UK Global Jamaica water closet Gleaner Company Websites Business Directory Restaurant Week Discover Jamaica Go Jamaica Hosting First Look Sports Jamaica diGJamaica Gleaner Links Advertise with us About Us Contact Us Suggestion Subscription Terms and Conditions Submit a Letter Privacy Policy Weather
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