Financial lease (FL) is offered to clients who wish to use movable assets such as motorbikes, tricycles, cars and agriculture machineries, heavy equipment for their daily business or personal activities in long-term financing period without investing their own capital or using working capital. LOLC authorizes client to fully manage and use the identified movable assets during the lease period. Client can become its legal owner at the end of lease period by just paying monthly lease fee to LOLC including insurance fee charges.

The Benefits of this product: 

• Get the requirement assets for your personal activities or business operations without using your own financial resources or capital,
• Transform gross expend into paying back to the LOLC monthly,
• Increase your income and/or expand your business operations.
  

FL is designed for adapting to the needs of our clients by allowing several options of repayment mode:

• Annuity,
• Flexible annuity, or
  
• Semi-balloon (monthly interest repayment and the balance of principal repayment based on cash flow analysis and mutual agreement),

Fee:

Processing fee is charged from 1% - 1.5% per cycle. Insurance and administration fee is charged from USD 10 – USD 50 per month. 

Requirement:

• Be a majority aged 18 to 70 years old
• Permanent resident
• Have a legal business and regular income
• Have a good record and be reliable
• Have enough capacity to repay the lease
• ID card and family book, or resident book, or birth certificate
• Salary pay slips for employee (if clients’ income is from salary)
• Fiscal Financial Statement (if any).
• Agree to the lease term & conditions.
  

How to apply:

To apply for loan, client shall follow these simple steps:

• Talk to a LOLC staff in your area or at the nearest LOLC office or via call center 023 991 991.
• Request a specific lease amount and term based on your needs.

Other Terms and Conditions: 

Clients shall comply with some term and condition as below:

• Provide related documents as LOLC requirement to support the request of financial lease.
• Chooses the asset and any suppliers of the asset without relying on the skills or judgment of the Lessor. LOLC purchases the asset pursuant to the financial lease agreement.
  
• Use the leased asset for reasonable and legal purposes.
  
• Not allow to embellish, remove sticker identifying LOLC’s ownership, or renovate leased asset.
  
• Not allow to transfer, donate, make succession, sell, collateralize, mortgage, pledge, or pawn the leased asset without prior written consent from Lessor.
• Take care and maintain the leased assets in a good condition based on the life of leased assets.
  
• Notify damage/ loss of the leased assets to the Lessor.
  
• Cooperate with LOLC’s staff on the monitoring process of the utilization of leased assets, lessee’s income, business trend, and financial health.