Short-term loans from People's Leasing and Finance

People's Leasing and Finance PLC introduced Fast Track, a short-term loan scheme for businesses and individuals needing urgent financial solutions. The tailor-made loan scheme has been revamped to serve PLC customers better.

The Fast Track loans offer fast solutions for day-to-day financial needs including working capital. Under the loan scheme money could be obtained quickly at a minimal interest for business or individual needs such as; expanding businesses, buying stocks needed for businesses, modify or adding extensions to houses, agricultural needs, to purchase lands, higher education and other business and personal financial needs.

Movable or immovable assets could be kept as security to obtain a Fast Track loan. The maximum limit of the loan is decided upon the value of security kept and repayment capacity of the borrower. Although the loan is given for a maximum two year period, the borrower could request and renew the facility.

The loan interest is calculated on only the outstanding capital thus a particular month's payable interest becomes the due interest for that month. DGM, Operations, PLC, Lionel Fernando said the Fast Track scheme is a short-term loan scheme that facilitates urgent working capital needs and individual day-to-day needs of people. "The Fast Track loan scheme was designed keeping in mind people's urgent financial needs.

The speciality here is the opportunity offered for customers to settle the loan without being pressurized or ending up with mental stress.

The full loan could obtained at the inception itself or it could be obtained in instalments according to the customer's needs and repayment capacity.