PanJam Announces Acquisition of Minority Stake in Term Finance (Jamaica) Limited
PanJam Investment Limited (PanJam) announced today that it acquired a 20 per cent stake in Term Finance (Jamaica) Limited (Term Finance), the Jamaican subsidiary of Term Finance Holdings Limited, a regional micro-lending business. Term Finance was established in Jamaica in September 2017, with the aim of introducing a new, ethical, and completely web-based approach to Jamaica’s microcredit industry. The new online lender officially went live at 9:00 AM on November 13, 2017 and four hours later, successfully disbursed its first loan. The quick processing time is representative of Term Finance’s efficient model.