Term Finance, a leading digital lender in the Caribbean, has taken over certain loan portfolio assets of Axcel Finance.
The novel arrangement with Axcel Finance, a top consumer credit provider operating in Barbados, Antigua, St. Lucia, and Grenada, will expand Axcel Finance’s personal customer service offerings to encompass online lending capabilities, which will reduce costs and accelerate approval to the benefit of the public.
Since 2011, Axcel Finance has disbursed over $85 million USD in loans to more than 28,000 customers, while Term Finance has revolutionized digital lending across multiple Caribbean markets.
Samuel Rosenberg, Chairman of Axcel Finance said, “since entering the
microfinance sector over 10 years ago, it is pleasing to witness the growth of the market.”
“Most rewarding is the number of entrepreneurs and families whose aspirations became
a reality though our unique offerings. We look forward to the new synergies with Term
Finance which will introduce innovative online capabilities for the benefit of the clients.”
