Company now rolling out its first microcredit product

Regional gaming company Supreme Ventures Limited (SVL) has appointed a chief executive officer for its recently established Fintech subsidiary, Supreme Ventures Fintech Limited.

He is Damian Duncan and his appointment became effective on April 1, 2021.  Duncan previously served in the role of senior vice president at Prime Sports (Jamaica) Limited, a wholly-owned subsidiary of SVL.

Supreme Ventures Fintech is now rolling out its first microcredit product, a loan aimed at its 1,300 retail agents. Starting with a $500,000 limit, the loan, branded as Evolve, is SVL’s first foray into the financial products space.

EVOLVE PILOTED AS SMALL BUSINESS LOAN

It is being piloted as a small business loan that will eventually also become a personal consumer product. Supreme Ventures Fintech recently acquired a majority stake in Kingston-based micro finance company, McKayla Financial Services Limited.

Supreme Ventures Fintech Limited last February acquired a 51 per cent majority stake in McKayla Financial Services Limited for an undisclosed sum. 

Incorporated in 2002, McKayla Financial Services Limited is a micro-financing company that focuses on hassle-free loans at affordable interest rates for individuals, companies and small businesses.