23rd, November, 2017, Yangon.
Hayman Capital Co., Ltd Microfinance Institution have received additional loan of US$ 900,000 in MMK (local currency equivalent) from Maybank, Yangon Branch to fund more than 3,500 micro entrepreneurs and low income businesses – intention to assist development of their businesses across regions in Myanmar.
“We are grateful to Maybank for their support to our efforts in extending financial services to the rural and unbanked poor population of Myanmar. The first tranche of the loan we took earlier this year was disbursed to the thousands of small businesses effectively. The same will be done with the second tranche” – commented on this deal Mr. Sultan Marenov, CEO of Hayman Capital.
Hayman Capital took the first loan MMK equivalent to US$ 1,000,000 in May 2017 and was disbursed this amount to more than 5,000 customers in Yangon and Bago regions.
Facts about Hayman Capital lending:
In the last two years, Hayman Capital has disbursed more than MMK 23.45 billion to small businesses;
More than 67,000 small businesses have received a loan from Hayman Capital;
More than 80 percent take the second and third cycle of the loan from Hayman Capital;
80% of the borrowers are women;
Small businesses and micro entrepreneurs are able to apply for loans ranging from MMK 100,000 to MMK 5,000,000 in order to grow their businesses.
Hayman Capital Co., Ltd (Microfinance Institution) is 100% subsidiary of the Singapore based Investment Company – Hayman Capital Pte., Ltd. The company was established in 2014 and it disbursed its first loan in July 2015. Currently, it has 5 branches: Insein, Thingangyun, Hlegu and Nyaung Lay Pin Townships and Bago City. Commencing next year, it has plans to operate new branches in main commercial cities and to launch new online platform system.
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