Archive | August, 2011

Loan to Berendina Microfinance, Sri Lanka is approved

16 Aug

We are delighted to announce that a bank in Sri Lanka has approved a loan of $100,000 with a 50% guarantee to Berendina Microfinance, Sri Lanka. This will be the first ever bank loan to Berendina.

While the bank’s credit and risk committees have approved the loan, the bank’s legal department is reviewing the guarantee agreement we have shared with them. We hope to get their feedback in the next few days. Once the legal agreement is approved and we complete the necessary paperwork we will have new loans on the website.

We are really excited about this development and we are keeping our fingers crossed that we do not run into any unexpected obstacles. Watch out for more posts on this subject in the next few days.