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SLCM Limited, a 100 per cent subsidiary of Delhi-headquartered Sohan Lal Commodity Management Pvt. Ltd. (SLCM), an agri logistics and warehousing company, has tied up for collateral financing with Yoma Bank, one of Myanmar’s large private sector banks.
Through this initiative, SLCM will extend financial solutions support to farmers, processors, traders, agriculture exchanges, exporters and importers across Myanmar, a company release said.
Yoma Bank will offer farmers to pledge 60 per cent of their commodities, stored at SLCM’s warehouses for a certain period at an interest rate of 13 per cent a year, the company said.
Daw Aye Aye Soe, Executive Director, Yoma Bank, said in a release, “We are arranging to provide pledge loans against commodities, such as machines, commercial goods and agri commodities to our small and medium enterprises to get competitive price.”
SLCM is an Indian warehousing company that provides scientific and financial support to agri economies of developing nations in ASEAN region. It has presence in over 70 locations across 20 Indian states with over 600 warehouses offers post-harvest agri logistics services to over 50 commodities, including cotton, pulses, maize, spices, mentha oil, among others.
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