Triple Jump’s First Investment in China
In September, Triple Jump made its first investment in China by providing an EUR 8M loan facility to Grassland Finance Limited with the ASN Novib Microfinance Fund (ANMF). Grassland Finance Limited (GFL) is one of the first foreign-owned microcredit companies in China. It was founded in 2009 by, amongst others, social impact investor Accion. With its head office in Beijing, GFL provides funding to micro, small and medium sized enterprises (MSMEs) across seven different provinces in China.
Triple Jump supports GFL because the organization has a wide range of loan products combined with a unique credit scoring model allowing GFL to finance businesses that are unserved by traditional banks. By providing a mix of working capital, agriculture microcredit and business loans up to USD 400K GFL can provide exactly the right product for small businesses to grow. Customer satisfaction is enhanced by smooth approval processes and use of an online client portal where customers can login to access their repayment schedule, transaction history, loan application status and other application details. With MSMEs being the prime driver of employment, Triple Jump’s loan to Grassland Finance Limited promotes job creation in China.