Financial services company Dolla Financial is continuing to expand and diversify with the inking of a deal with Derrimon Trading, a company listed on the Jamaica Stock Exchange with a market capital of more than $10 billion.

Dolla Financial has already begun to embark on regional expansion, most recently with its operations in Georgetown Guyana. Derrimon also has distribution networks throughout the Caribbean region and subsidiaries in North America.

As Dolla Financial forges ties with Derrimon Trading as the preferred finance partner for its employees and contractors, Derrimon will now be able to offer loan packages to its staff, customers and contractors, through Dolla.

PERFORMANCE BOOST FOR BOTH PARTIES

The partnership is expected to boost performance, staff moral and profits for both parties.

Kadeen Mairs, CEO of Dolla Financial Services, said: “I am excited about the partnership with the Derrimon Group, its obvious, being in the business of lending, Dolla will have a broader array of diversified customer base within the network. However the partnership means more to us, the insight of its leaders, Derrick and Ian, will add tremendous value to the table. It will see us developing new financing products for persons within the distribution and logistics business as we seek to find new ways to help individuals and business owners to maneuver to this pandemic.” 

Derrimon encompasses within its group, companies such as Caribbean Flavors and Fragrances, Wood Cats International Limited, Select Grocers Supermarket and 7 locations of the popular Sampars Cash and Carry. 

Ian Kelly, group chief financial officer, Derrimon Trading, stated: “The pandemic has affected various members of our teams, from securing online learning devices for their children, to navigating the various COVID-19 restrictions and protocols. We believe this partnership with Dolla will help to ease some of the burdens brought on by the COVID-19 pandemic, by providing our staff and contractors with customisable and flexible loan options that will give our team that much-needed peace of mind as we all adapt to a new way of living.” 

The group employs over a thousand persons directly inclusive of full-time staff and contractors. 

Dolla Financial currently has eight locations in Jamaica and one location in Georgetown Guyana.