Durrant Pate/ Contributor

Supreme Ventures has announced that initial discussions are underway with a view to offloading Evolve Loan Co’s loan portfolio, digital lending solutions and selected assets to Dolla Financial Services Limited.

Established in 2002, Evolve Loan Co Limited (formerly McKayla Financial Services) is a micro-financing company that offers individuals, businesses, and small companies stress-free loans with competitive rates. It has grown to include seven branches in St Ann’s Bay, St Ann; Mandeville, Manchester; Portmore, St Catherine; Junction St Elizabeth; Constant Spring Road, in St Andrew; and the Head Office located at 7 Lismore Avenue in Kingston.

The planned transaction represents a deliberate capital management initiative aimed at optimising group balance sheet efficiency, reducing credit risk concentration, and improving risk-adjusted returns, while maintaining exposure to future value creation in the loan portfolio. Following the divestment, Evolve will pivot toward an asset-light operating model with a strategic focus on loan origination, digital enablement, and fee-based income streams. 

In a news release issued to the media, Supreme Ventures says this shift is expected to improve returns on capital while reducing balance sheet risk. The acquisition supports Dolla’s growth strategy by expanding scale and strengthening its lending platform.

For Supreme Ventures, the transaction enhances capital flexibility while preserving participation in future value creation through its 15% equity ownership in Dolla Financial Services Limited. Executive Chairman of Supreme Ventures, Gary Peart, reports, “This transaction reflects disciplined capital allocation and a clear focus on shareholder value. We are strengthening the group’s financial position today while preserving long-term upside through a more scalable and capital-efficient structure.”

Details of the transaction are currently being finalised and are subject to the Bank of Jamaica’s approval. For his part, Dolla Financial Group CEO, Kenroy Kerr, comments, “This intended acquisition meaningfully expands our microcredit footprint and reinforces our commitment to inclusive financing. We believe it will have a positive and far-reaching impact on our loan book by improving balance, scale, and growth potential.