LOLC introduces new working capital product

Tuesday, 15 March 2011 00:02 - - {{hitsCtrl.values.hits}}

The Factoring/Working Capital Business Unit (WCBU) of Lanka ORIX Leasing Company PLC (LOLC) has introduced a structured working capital product named ‘Privilege Cheque Financing’ recently.

The new product, which provides a flexible, hassle free working capital solution for corporate clients, was launched at the LOLC Head Office earlier this week.

‘Privilege Cheque Financing’ offers the added benefit of financing a client’s working capital needs either against the cheques received from their customers or against their own cheque.

It targets businesses with a minimum monthly turnover of Rs. 5 million extending up to corporate clients.

It will also offer an opportunity for SMEs with a strong asset base to get their working capital financial requirements addressed through this flexible product.

Observing its potential for high business growth, Kapila Jayawardena, Group Managing Director/CEO of LOLC, said: “‘Privilege Cheque Financing’ is a corporate focused product, which has been tailor-made to offer our clients the ease of meeting their working capital requirements, swiftly and efficiently. This flexible, new product has proven to be popular among many of WCBU clients during its introductory stage. Retaining our reputation for being a trendsetting financial entity, we have formulated this product to offer clients the best of our total working capital solutions.”