It's hard to miss the brightly-coloured building along Half-Way-Tree Road in Kingston that is home to Access Financial Services Ltd - a company that since 2000 has been providing loans to small and micro businesses.

The bright colours are deliberate because Access, operating in an increasingly competitive segment of the financial market, wants to draw attention to itself - without paying an arm and a leg for the publicity.
"It's like a promotional gimmick," declares Keisha Thomas, the company's credit manager.

"People might ask, 'what's that bright yellow building?' Access Financial...the onus is now on that person to come find out."
Access' principal shareholder and managing director is Marcus James, but he was unable to speak with Sunday Finance Small Business last week, and directed us to Thomas.

The company has, since inception, disbursed $425 million, representing over 12,000 loans - for both business and personal uses.
"We grant small business loans between $5,000 and $350,000 while personal loans, which are salary deducted are between $5,000 and 200,000," explains Thomas. Borrowers range from higglers, shopkeepers, to store owners and manufacturers.

Access has grown from two members of staff in 2000 to 23 now - six of whom are personal and business loan officers. There is also a delinquency control officer who is responsible for representing the company at court.
The company remains in an aggressive growth mode, with plans to broaden its branch network next year.

"We are seeking to add at least two more branches to the network," said Thomas. "Our goal is to provide financial assistance to small business operators across the island."

Access currently operates out of four locations - Spanish Town, Morant Bay, Montego Bay and Kingston (head office).
One important growth area now being developed, is same-day loans a service that keeps the company's lobby buzzing with customers just eager to get some quick cash.

There are also plans to introduce another loan product this year - geared towards people employed for at least six months.
"It's similar to a salary advance," explained Thomas. "We want to enhance peoples livelihood and give them a chance... that's what micro-lending is all about."

This new service will allow customers to borrow up to 60 per cent of their net pay.

Thomas, who has the responsibility of approving loans for all branches, believes that institutions like Access will continue to thrive because several borrowers in Jamaica are drawn to their informality.
"Most people are intimidated by the large or traditional financial institutions," she said.

henryr@jamaicaobserver.com

Good support in Bounty Hall for Heineken's 'Bond' road show

Opera star to sing for the Ward

This is the century for the person of colour — Judge Joe Brown