The Life Improvement Loan Asset Backed (LILAB) provides clients with opportunities to get the loan for purchasing moveable assets such as motorbike, tricycle, car, generator, or agriculture machinery, heavy machinery etc. with reasonable interest rate and loan term. LOLC accepts the purchased assets or existing asset as collateral to guarantee the loan. This loan enables clients who have regular income from salary or business, services or other legal sources of income and require buying moveable assets to use for personal in household or for business. Throughout the provision of this product, LOLC is able to expand its market shares, increase income and maintain its sustainable operations.
LOLC’s Life Improvement Loan Asset Backed offers clients a number of key benefits:
- A reasonable interest rate, calculated based on outstanding balance.
- Convenient option to apply for a loan and repay loan at the nearest LOLC office or any money transfer agencies which incorporated with LOLC.
- Flexible loan terms that are catered to your need.
LILAB is designed for adapting to the needs of our clients by allowing several options of repayment mode:
- Flexible annuity, or
- Semi-balloon (monthly interest repayment and the principal repayment based on cash flow analysis and mutual agreement),