Lasco Financial lands government contract for SME financing

Lasco Financial Services Limited, LFSL, says it has clinched a government contract to provide financing routes for small and medium-sized enterprises under a public-private partnership arrangement.

“We will be working with them (Jamaican government) to see how we can serve the small and medium-sized entity space in a better way; in a way that protects us, as well as the borrower, and gives us the appropriate return,” said Lasco Financial General Manager Sharlene Williams at the company’s annual general meeting.

Lasco Financial will offer the service as a new loan product, but details are still being worked out.

“We were named as the preferred bidder, but we have not yet started working with Government,” Williams indicated.

Amid a leadership transition at the company, the general manager pledged to build on that foundation by challenging the status quo, expanding revenue sources, and deepening integration between Lasco’s financial services and microfinance arms.