LOLC Finance PLC, the largest non-banking financial institution in Sri Lanka, brings to light the significant role of its Factoring Business Unit in providing indispensable financial solutions to businesses across the country. With a robust network of over 200 branches, LOLC Finance Factoring offers distinctive support to enterprises, ranging from small-scale entrepreneurs to corporate giants.

In light of the recent economic challenges, LOLC Finance Factoring emerged as a lifeline for most businesses, ensuring continuous liquidity to navigate through turbulent times. By facilitating seamless transactions through online platforms and expediting payments, the company played a pivotal role in sustaining essential services, including supermarkets and pharmaceuticals.

Mrs. Deepamalie Abhaywardane, Head of Factoring at LOLC Finance PLC, emphasized the increasing relevance of factoring in today's economy. "As economic conditions become more stringent, factoring emerges as the most sought-after financial product for businesses across various sectors. It offers a win-win solution by providing upfront cash up to 85% of the credit sale to suppliers while allowing end-users/buyers better settlement period.”

One of the standout features of LOLC Finance Factoring is its hassle-free application process. Unlike traditional bank loans that require collateral, LOLC Factoring extends credit facilities without such obligations. Furthermore, LOLC Finance Factoring relieves business entities of the burden of receivable management and debt collection. Through nominal service fees, businesses can outsource these tasks, allowing them to focus on core operations while ensuring efficient cash flow management.

For businesses seeking Shariah-compliant factoring solutions, LOLC Al-Falaah’s Wakalah Future-Cash Today offers an efficient and participatory financing model that meets both financial needs and ethical principles. Understanding the diverse challenges faced by businesses, LOLC Finance Factoring deliver tailored solutions that enhance cash flow, reduce credit risk, and support sustainable growth. Working together with LOLC Al-Falaah ensures access to a transparent, well-structured receivable management solution strengthened by the credibility and trust of Sri Lanka’s largest NBFI, LOLC Finance.

The clientele of LOLC Finance Factoring spans into various industries, including manufacturing, trading, transportation, healthcare, textiles, plantations, and other services, all contributing significantly to Sri Lanka's economic growth. By empowering businesses with accessible and convenient working capital solutions, LOLC Finance’s Factoring arm plays a vital role in fostering economic development and prosperity of the country.

In the upcoming quarter, LOLC Finance Factoring remains committed to delivering innovative financial solutions tailored to meet the evolving needs of businesses. As Sri Lanka's economic landscape continues to develop, LOLC Finance Factoring stands ready to support enterprises on their journey towards growth and success