Dolla Financial Limited is expanding across Jamaica, and in doing so is making a move to be noticed more by the people of the Corporate Area who are seeking loans to satisfy their needs.
Chief executive officer of Dolla Financial, Kadeen Mairs, said a thrust is being pushed to concentrate more on the market that houses a third of the Jamaica population.
Dolla was started in 2014 by Westmoreland-born Mairs, in partnership with Stocks and Securities Ltd as a cambio and remittance company. Mairs, who after leaving the legendary Manning’s High School, went on to gain bachelor’s and master’s degrees. Earlier this year, First Rock Capital Holdings acquired the majority stake in Dolla Financial from SSL Growth Equity Limited.
“We primarily attract core clientele out of the north coast, places like St James, and other parishes like Hanover, Westmoreland, and St Elizabeth, but our focus is to do more business in Kingston. We want to resonate more with the every day person in Kingston,” Mairs said.
Dolla loan products are placed in three broad categories: there are micro loans offered to, for example, the individual who jerks chicken; is a bus conductor, or who works in the bus park whom the company assists almost daily; personal loans to assist those individuals who work for companies, who have regular 9-5 jobs and want to pay personal expenses; and business loans, which are targeted to small and medium enterprises (SMEs).
The company does not offer foreign currency loans.
Mairs, a former Hanover Cooperative Credit Union, and National Commercial Bank employee, who is a minority stake in Dolla, remained as chief executive, but his day-to-day duties have now been shared with a recently appointed chief operating officer, as he concentrates on business development and expansion of the organisation that has 25 people in its employ across locations.
SOURCE. – https://www.jamaicaobserver.com/news/dolla-financial-eyes-kingston-market-to-lend-more-money_198766