A Hong Kong holding company incorporated in 2011, Grassland Finance Ltd. (GFL) owns and manages two Micro Credit Companies (MCCs) in Chifeng, Inner Mongolia and Wanzhou, Chongqing, respectively. GFL’s Chifeng operation – known as Accion Microcredit China (AMC) – was launched in 2009 and represents one of the first foreign-owned MCCs in China. Following GFL’s incorporation, we transitioned the ownership of AMC to GFL, in partnership with co-investors Sagamore and DEG. In 2013, GFL secured a second MCC license in Wanzhou, Chongqing. Both companies provide loans to small and growing local entrepreneurs. In the future, GFL plans to partner with other organizations to pilot MCCs in high-growth regions throughout the country.
Grassland is deploying an integrated Shared Services Platform that allows high-level managerial resources to be utilized across a larger asset base, thus enabling GFL to leverage expertise and management across its operations. Grassland is also developing a market-leading Internet Finance platform that will form the center of the Shared Services strategy and ensure that Grassland’s operations are using the latest innovative technology and scaling rapidly.