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:
- Flexible annuity, or
- Semi-balloon (monthly interest repayment and the balance of principal repayment based on cash flow analysis and mutual agreement),
|Currency||Lease Amount||Lease Rate Per Month||Lease Term|
|USD||up to 50,000||1.4% - 1.5%||12 – 60 months|
Processing fee is charged from 1% - 1.5% per cycle. Insurance and administration fee is charged from USD 10 – USD 50 per month.
- 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.