LOLC Finance restates its commitment to empowering Sri Lankan communities by launching a series of transformative training programs specifically designed for its MSME / Personal Finance customers. Since the introduction of Personal Finance Loans in 2009, LOLC Finance has focused on bridging the gap for groups with limited access to traditional banking services. By offering small loans tailored to support income-generating activities such as farming, trading, and small-scale manufacturing, LOLC Finance has established itself as a catalyst for self-reliance and economic growth. Recognizing that financial assistance alone is often insufficient for long-term success, LOLC Finance has taken a bold step forward by integrating skill development and income-generation training into its services.

These training programs are meticulously designed to equip MSME / Personal Finance customers with the knowledge and skills required to maximize the utility of their loans and achieve long-term financial stability. From mastering basic business practices like record-keeping and inventory management to acquiring specialized skills in areas such as mushroom cultivation, organic farming, and coir product manufacturing, participants are given the tools to enhance their income potential and entrepreneurial acumen. The initiative also emphasizes the importance of financial literacy, teaching participants the fundamentals of budgeting, saving, and managing cash flow, along with strategies to avoid crippling debt and navigate financial uncertainties. This comprehensive approach ensures that customers not only generate income but also manage their finances prudently.

One standout-training program focuses on horticulture, a powerful tool for promoting food security, sustainable living, and supplemental income while reducing cost by implementing resource efficient methods. Participants learn essential skills such as site selection, garden design, soil preparation, pest management, and value addition to their produce. Through techniques like vertical gardening and organic pest control, customers are empowered to transform small spaces into thriving sources of nutrition and income. The training also emphasizes eco-friendly practices, such as composting and rainwater harvesting.

Our most requested training is the Soap and Detergent Making. This training equips customers with knowledge and skills to start or improve a soap and detergent making small-scale business by providing theoretical and practical knowledge about different types of soap and detergents, basic chemistry of different soap and detergent, material sourcing, equipment and safety requirement, and step-by-step process of making the end product and marketing.

Commenting on the initiative, Mr. Charith Jagoda, Head of SME & Personal Finance of LOLC Finance PLC, mentioned, “Aligned with LOLC Finance’s sustainability goals, these training programs demonstrate the organization’s dedication to empowering individuals, especially women in communities by supporting for their economic growth and poverty reduction while cultivating entrepreneurial mindset and culture in low income individuals and families. The increased income and cashflow will enable individuals or families to improve their social welfare such as education, healthcare, housing and overall well-being. Further, widespread access to required capital and support to business through trainings and other aspects will enhance the performance of existing businesses and encourage new businesses to emerge, foster job creation and stabilize country’s economy while diversifying the income structure of the country.”

Particularly, women who form a significant portion of the beneficiary base, not only gain knowledge and business acumen but also will gain confidence and ability to stand against the cultural norms that violate women’s rights, gain financial independence and self-reliance, become pillars of community leadership and will obtain social equality.

By enhancing the capacity of its customers to improve their businesses and income, LOLC Finance not only strengthens its relationship with its clientele but also reinforces its reputation as a socially responsible entity committed to creating shared value.

Mr. Charith Jagoda, Head of SME & Personal Finance of LOLC Finance PLC