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Regional microfinance institution coming to Grenada
Published on December 11, 2013 Email To Friend    Print Version

ST GEORGE’S, Grenada -- A leading microfinance company in the Eastern Caribbean, Axcel Finance Ltd, has announced it will be coming to Grenada.

Axcel Finance, which currently operates in Antigua, Saint Lucia and Barbados is on the verge of opening a branch in Grenada in early December.

Axcel Finance is the leading microfinance institution in the region with a proven track record in short-term consumer and small business loans. The company has established a strong track record, credibility and a healthy client-base in Antigua, Saint Lucia and Barbados with dozens of highly trained, courteous and professional employees serving clients in these markets.

Axcel Finance is dedicated to the provision of high-quality, innovative financial solutions for market segments which are under-served by mainstream banking. By deploying capital in a responsible and profitable manner, Axcel Finance enables investment, economic improvement and social mobility of its clients in the market segments it serves. Axcel utilizes the latest technology in delivering service to its clients and keeping all accounts updated. The company believes in building mutually beneficial relationships with its clients.

Sam Rosenberg, CEO of Axcel Finance, commented on the anticipated arrival and said: “There is a growing need for microfinance in small economies like those of the OECS including Grenada. Whether it is for personal loans or for small business financing, microfinancing fills a void outside the ambit of the commercial banking sector. Cottage industries, small and micro enterprises do not always meet the collateral requirements set by commercial banks. Hence, micro-financing is a welcome fillip to help grow these small enterprises. It’s no secret that small and medium enterprises are the engine of growth, especially in small economies like ours. Axcel Finance wants to be a catalyst for growth in the small business sector.”

Axcel Finance specializes in Xpress Loans which give the borrower access to the quickest, safest and most reliable financing options for a range of one-time expenses, such as healthcare, school supplies and travel expenses. Axcel also offers financing to small businesses under its MicroBiz loan facility. These funds could be used to meet short-term expenses, purchase equipment or for business expansion.

Axcel Finance’s entry into Grenada signals the company’s confidence in the Grenada economy and its desire to extend its range of microfinancing options to the Grenadian community. It is also Axcel’s way of bringing direct foreign investment into Grenada and helping to grow the micro-enterprise sector, as well as helping ordinary Grenadians fulfil some of their dreams and aspirations.
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