Sri Lanka’s Fintrex Finance prioritizing lending to local entrepreneurs and small businesses
Fintrex Finance of Sri Lanka, which is owned by Bluestone Capital and a private equity and venture capital company, is reportedly prioritizing lending to entrepreneurs and small businesses.
The Company reportedly believed that lending to entrepreneurs and small businesses as a big force in the economy.
Ajit Gunewardene, its founder and chairman, has been quoted as saying in the local media that it is the creation of entrepreneurs that Fintrex will be best known for.
“We will create more entrepreneurs who are the future base of this economy. It is the small entrepreneur that will grow to be the future success of this nation,” he has said in a statement.
“With the right technology and a management team that has the ability to compound capital for investors, we will enable responsible lending and deploy best in class practices to scale our operations nationwide and a build a future for the next generation of leaders.”
Fintrex Finance, a finance company formerly known as Melsta Regal Finance, was bought by Bluestone 1, a subsidiary of Bluestone Capital, from Melstacorp group in March 2018.
“Through Fintrex Finance, we can partner these entrepreneurs who are mostly in the SME sector to tap into these entrepreneurial opportunities and build up a growing economy,” Gunewardene has said.
“As entrepreneurs ourselves, we have the knowledge, the expertise and the financial backing that could help these new markets to succeed.”
Gunewardene has noted that Fintrex Finance’s management experience in the corporate environment brings in governance of the highest level to the business.
“There will be transparency, effectiveness, efficiency, and accountability at all levels, and our 100 percent participation and responsiveness with no exceptions.”
Gunewardene has said they have put in to place tools, systems and processes required to manage risks, technology to address efficacies, and the expertise to run the organization effectively.
“Thirdly, we have and will ensure the right people with the right competencies are in the right positions to drive this organization properly. Our collective intent is not growth at any cost but growth on a solid and reliable foundation,” he has added.
OSL take:
The increase in focus and support to local extended by the Sri Lankan government as well as the private sector would help boost the country’s SME sector. Building a strong set of entrepreneurs and SMEs, Sri Lanka will become an attractive venue for foreign business ventures, especially through partnerships.
| Article Code : | VBS/AT/31012019/Z_3 |