Assetline Leasing Company Limited (Assetline) recently launched its newest product, Asset Draft, to cater to the working capital needs of the business community. Designed specifically to address the funding requirements of small and medium enterprises, it is structured similar to an overdraft facility, eliminating the possible limitations of fixed term loans that may not meet the working capital cycle of transactions and businesses in this sector.
It provides not just short term but also longer-term, evergreen, funding to improve cashflows and optimise commercial opportunities. Assetline has always pioneered financial inclusion for individuals and enterprises who may otherwise not have access to appropriate, affordable, and timely financial products and services and this is yet another such initiative.
The product was launched Island-wide through Assetline’s 54 branches and speaking at the launch Mr. AshanNissanka, CEO/Director, Assetline said, “Our objective has always been to support entrepreneurs as well as small and medium scale enterprises which are the bedrock of our economy. Their progress is the Nation’s progress and this product is yet another critical milestone in this journey. Given the challenges of the current economy, this sector requires greater flexibility, and Asset Draft gives them the peace of mind to take advantage of any opportunity that may come their way without worrying about undue financial costs or long term commitments.”
Assetline, the flagship company of the David Peiris Group financial services cluster, is the largest specialised leasing company in Sri Lanka and has been in operation since 2003.