BASSETERRE, St. Kitts – THE fast-growing financial institution Fast Cash has announced its plans to open a number of other offices, including one in Nevis.
Currently, Fast Cash has offices in seven islands across the Caribbean including Grenada, St. Lucia, Dominica, St. Kitts and Barbados.
On Tuesday (May 3) during the launch of Fast Cash’s insurance or payment protection service, St. Kitts Country Manager Anesta Martin, in responding to a question from the media, informed that the company is taking steps to get a business license for operation on the island of Nevis.
“We are presently working on getting our license for Nevis. We already have a space allocated, so once we get the license Nevis is onboard. So that would be eight islands…”
Notwithstanding that there is not yet an office on that island, Martin indicated that Fast Cash services are extended to persons who reside there and that a customer base has already been established.
She said the company is in expansion mode and is eyeing other territories within the Caribbean.
“We are presently in expansion mode. We are expanding north and also south in the Caribbean archipelago. So the next island to be onboard and our offices opening in, is Trinidad. So we have islands coming onboard such as Anguilla, the Cayman Islands, Trinidad, Guyana…Barbados has just recently opened another office last week; that’s three offices now in Barbados. So Fast Cash is expanding throughout the Caribbean archipelago.”
Asked about the fast growth of the company, Martin attributes it to the ease with which customers can access funding. She said that compared to traditional lending institutions, Fast Cash is relatively easier.
“Because of how Fastcash operates…you can apply to get loans in about two hours or at the end of the day. We are different from the way we operate from the traditional lending institutions, we don’t ask for much requirements; just two recent pay slips, two IDs, proof of address and a job letter. The way in which you qualify for a loan is based on your net salary…
“We have seen persons coming in and filling that gap, because there are persons who can pay but because of the necessary regulations that other institutions may have, they tend to be left out. So we are basically filling that gap and we see the need for this gap to be filled throughout the other islands.”
Martin informed that Fast Cash’s current customer base within the Federation is more than 700 and growing.
Fast Cash opened its doors for business within the Federation in 2011.
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