Business Summary:
Lucky89 Microfinance is a Microfinance Institution established in June 2014 in Myanmar. Its main activity consists of offering microloans to peasants, workers and/or entrepreneurs who need capital to grow their activity or create a business.
The microloans are among the most understanding and affordable on the market, with an interest rate of only 2.5% per month or 30% per year. The clients can also create a savings account to track their incomes and expenses, with statements or passbooks.
As Myanmar knew a growth of 6,5% in 2015, the need for microloans will develop accordingly.
Key Features:-
- Microfinance Business License: Obtained legally in April 2015
- 2 Branches: Located in Yangon and Bago, both managed by experienced Track Officers
- 20 Trained Employees: 12 in Yangon and 8 in Bago
- 5273 Satisfied Customers: 2998 in Yangon and 2275 in Bago
- USD 1,144,085 (MMK 1,556,050,000) disbursed for Loans: 71.89% in Yangon and 28.11% in Bago
- Repayment Score over 100%
- Excellent Track Records, with a focus on a strong methodology (Grameen), with no bureaucratic approach nor corruption
Company Products:-
- Lucky Loan: Loans for group of 5 persons at most, for a loan tenure of 50 weeks, with MMK 150,000 max per member.
(Loan interest: 2.5% per month; 30% per year; flat rate at 15% p.a)
- Lucky Savings: Savings Accounts available for loan customers only, accessible for an initial deposit of MMK 1,000 and no service charge. Statements and passbook are delivered according to the customer’s wishes. There is no minimum balance.
(Interest rate: 1.25% per month or 15% per year)
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