BRAC Lanka Guarantee Ltd was set up in Sri Lanka in response to the 2004 tsunami that severely affected many districts such as Ampara, Batticaloa, Trincomalee, Galle, Hambantota, Kalutara and Matara. BRAC partnered with LOLC to acquire Nanda Investments and Finance PLC, which was renamed BRAC Lanka Finance PLC in December 2013. Soon after, under the financial consolidation initiative announced by the Central Bank of Sri Lanka in 2014, BRAC sold its share holdings of BRAC Lanka Finance PLC to Commercial Leasing and Finance PLC (CLC), a company within the LOLC Group. Catering to the lowest end of the micro lending segment in the country, BRAC is renowned as Sri Lanka’s only micro finance company with the highest level of female participation.
As one of the world’s most effective microfinance models, BRAC has built a unique legacy in Sri Lanka of empowering small scale female entrepreneurs by extending financial assistance and technical knowledge to uplift the non-bankable at the grassroots level. BRAC delivers its services through its majority female staff. The company focuses on lending exclusively to women entrepreneurs who are engaged in self-employment, manufacturing, trade and service providing.