LOMC ("the Company") is a microfinance institution (MFI) operating in Sri Lanka. The Company was spun off from Lanka ORIX Leasing Company (LOLC) as a subsidiary in 2008. LOLC had been carrying out microfinance activities since 2003 alongside its other leasing business. LOLC holds 80 % of LOMC and the remaining 20 % is owned by FMO, the Dutch Development Finance Institution.
The Company's focus is on rural-based clients where the majority of its clients are based. LOLC's experience working with the SME sector has helped LOMC design microfinance services suited for the rural Sri Lankan market. LOMC teamed up with Sri Lanka Post to offer micro credit services to rural communities at interior locations around the country. Sri Lanka Post has over 600 post offices located across the island and hence the relationship gives LOMC a unique opportunity to reach out to the rural areas of Sri Lanka. LOMC is also serving and seeks to further increase its service to the post-conflict areas of the North and East Provinces of Sri Lanka.
Despite its short history, LOMC is a sustainable and profitable microfinance institution. LOMC expects to grow significantly over the coming years, growing from its current base of approximately 50 000 clients to about 120 000 clients by FY2012/13. The Company's Gross Loan Portfolio is expected to approximately double over the same time frame.
- Total Loan Portfolio: USD 64 million.
- NMI Frontier Fund Investment: USD 4.5 million.
- Other Lenders: FMO, Triple Jump, Triodos, Symbiotics.
- Principal Operating Area: Nationwide in Sri Lanka.