LOLC Finance now offers working capital at the click of a button

LOLC Finance PLC, Sri Lanka’s Non-Banking Financial Institution (NBFI) giant, has unveiled yet another cutting-edge financial service that provides a high degree of convenience to its customers. 

The LOLC Finance Digital Speed Draft is the latest innovation of LOLC Finance. It is an advancement of the conventional Speed Draft facility that LOLC introduced over a decade ago which became a pioneering lending solution that won the hearts of many people across the country. Back then, the product was introduced primarily for raising working capital and for acquiring assets. However, this ground-breaking product which has now been re-introduced by LOLC Finance with a host of added features by linking it with the revolutionary payment aggregator platform, iPay offers unparalleled convenience and speed to customers seeking cash for diverse, urgent requirements, the company said in a media release.  

Speaking about the LOLC Finance Digital Speed Draft, Conrad Dias, Director / Chief Executive Officer of LOLC Finance PLC said, “With the digitalisation of the LOLC Finance Speed Draft it will give the customer the opportunity of operating his or her Speed Draft facility from the comfort of their home or business premises where payments to third parties or withdrawals of their own accounts as well as repayments from any bank account is facilitated using the advanced iPay Digital Platform. Customers can therefore experience greater convenience and increased speed of service”.    

Yanik Fernando, DGM, LOLC Finance East & Uva Region & Product Head of Speed Draft said, “This new product will have all the features that any conventional overdraft facility would have, where the customer could experience firsthand, the flexibility to withdraw and repay whenever he deems it necessary using iPay. The interest will be calculated on the daily balance.”