PRESS RELEASE - Axcel Finance continues to stamp its dominance as the leading microfinance provider in Saint Lucia and the Eastern Caribbean.
Axcel Finance CEO, Sam Rosenberg, disclosed that the company’s principals have approved a major expansion plan in Saint Lucia to further extend credit to SME’s as well as introduce additional innovative services.
Axcel Finance is a market-based finance company, which unlike other institutions, focuses its financing activities on the specific needs of its target markets.
Over the next few months, Axcel customers and prospective customers in Saint Lucia can expect more financial products, greater access across multiple platforms, greater use of convenience technology and more loan packages tailored to the needs and peculiarities of the micro and small business sector.
Axcel Finance specialises in Xpress Loans, hire purchase and small business financing for persons who would normally have difficulty accessing finance from the traditional banking sector. Personal loans for education, home improvement, emergencies and contingencies are a significant proportion of Axcel Finance’s loan portfolio.
Axcel Finance commenced operations in Saint Lucia in May 2012 with offices on the 1st Floor of the Blue Coral Mall in downtown Castries, serving customers in the north of the island. On April 2, 2014, Axcel Finance opened its new branch at Gablewoods South, serving Micoud, Vieux Fort, Laborie, Soufriere, Choiseul and environs.
Axcel Finance has been receiving positive feedback from its clients in Saint Lucia, among them farmers, nurses, single mothers and vendors.
One elated vendor said: “I have been plying my trade in Castries for years and was looking for ways to expand my business but the banks thought I was too high risk. I approached Axcel and they took a chance on me. Now my business is growing and my customers are happy, thanks to Axcel Finance.”
The company sees its expansion to the south of the island as part of its growth within the community as it in turn spurs economic growth through financing micro-enterprises and personal loans for a range of needs and small businesses. The launch of the Vieux Fort branch marks an important component of the company’s expansion.
Prime Minister Dr. Kenny D. Anthony, who is also the parliamentary representative for Vieux Fort South, has welcomed the opening of the new branch.
Speaking at the official opening, he said: “Axcel Finance has the ability to understand people, understand the needs of people, and respond to those needs accordingly. The government and people of Saint Lucia look forward to a great partnership with Axcel Finance – a partnership built on mutual respect, mutual understanding, and mutual trust.”
Two years ago, Deputy Prime Minister and Minister for Infrastructure, Port Services and Transport, Philip J. Pierre, declared Axcel Finance open in Saint Lucia.
Today, he said “Axcel Finance demonstrated not only willingness to serve an important market segment, but also a genuine care for the community. Their remarkable expansion here and across the OECS is a testament to the positive impact they have on our economies. We wish them many more years of success. Our small businesses’ success is their success.”
A statement by Leader of the United Workers Party, Allen Chastanet, has extended congratulations and best wishes to Axcel Finance for two years of serving the people of St. Lucia.
He said: “Microfinance is critical to the growth of small enterprises, which are major contributors to GDP and provide a social safety net for the marginalised and less well endowed in this country. We wish to commend Axcel Finance on the strides made so far and encourage the company to continue to provide an alternative source of funding for a wide cross-section of Saint Lucians.”
Axcel Finance has engaged in several people-centred initiatives in St. Lucia, which have and continue to make a difference in the lives of our people and our communities.
These include a Career Preparation Workshop for secondary and tertiary level students, an NGO Management Workshop, the Axcel Mentorship Programme, the launch of Axcel Angels, as well as donations to schools and community-based organisations.