Kingston, Jamaica – Torpedo Loans Limited, a provider of microloans with a no collateral, no guarantor business model, for more than 10 years, announced today the launch of a new corporate brand identity, name, and tagline. The organization will now be known as Silva Finance Limited (SFL). Among the other changes will be its logo, tagline and domain name (www.silvacaribbean.com) and products.
Under the new leadership of Silva Investment Limited, branding research determined that evolving its brand identity, renaming and restructuring rather than maintaining the brand name with new products to be introduced, was the optimal decision. The reputation and equity built under its previous identity is a valuable asset, but no longer accurately reflected the organization’s future and the suite of products to be introduced.
“Over the past 10 years, we’ve built a strong reputation for easy access to small loans especially to the unbanked,” said Executive Director, Rohan Silvera. “Market research confirmed that a name change was the appropriate strategic move for us. While we wanted to accurately reflect our work in the new naming, we also wanted to enable opportunities to market the organization in pursuit of new opportunities for future growth and expansion.”Mr. Rohan Silvera will join the board to assist Silva’s transition.” Ms. Dunn, Director of Operations will now be named Credit Manager and Ms. Williams, General Manager will be the new Operations Manager, Mr. Reid will remain Finance Manager under the Silva Finance Limited. A CEO will be announced momentarily.
Including a new tagline (“Improve your lifestyle”), the rebranding is part of the organization’s strategy to evolve its business and create a foundation for new opportunities. The organization is undergoing a strategic reorganization to better leverage its business; it is about to move its corporate headquarters to increase available service space for clients and centralize operation; it is adopting a new Loan Management System, establishing a Board, conducting staff training at every level of the organization; and is actively exploring new opportunities for continued expansion in the sector.”
In all, the branding embodies an organization that is reinventing itself but is still very committed to its community development roots. The new identity builds upon its history of adapting quickly to changes and quality care, but also opens doors to the future.
“This is an exciting change for us and marks a strategic pivot in our future direction as a microfinance business,” said Courson Robinson, Regional Lead of Parent Company Silva Investment Limited Courson Robinson. “While our commitment to the community we serve will not change, there is incredible potential to grow in and throughout the region. Our new branding and organizational structure aims to position us for those opportunities.”
About Silva Finance Limited (SFL)
SFL’s main objectives are to meet the demand for business, auto and personal loans in the most efficient manner, to operate as a profitable and sustainable organization and to help promote economic development by improving the standard of living of our clients and staff.