Dolla going Ultra Microfinancier launches new business geared towards wealthy DOLLA Financial Services Limited will be launching its newest subsidiary, Ultra Financier Limited, on November 1 to be led by CEO David Henriques. The company was incorporated on August 3, according to the Companies Office of Jamaica records, but only received approval for its formation by its board of directors recently. The subsidiary will be injected with $350 million from Dolla's upsized $1.5-billion secured corporate notes (bond). Dolla is the sole shareholder with 1 million ordinary shares, with Dolla Chairman Ryan-Kwesi Reid, Dolla CEO Kadeen Mairs, Dolla Chief Financial Officer Trevene McKenzie, First Rock Private Equity (FRPE) Managing Director Christopher Yeung and Henriques as directors. "Ultra is going to be lending to high net worth (HNW) individuals. We'll lend between $1 million to $100 million per person and we take luxury assets, prime investments, and properties as collateral. A person can carry their Cherry Gardens property valued at $200 million and borrow $80 million from us. Most times they [HNW] need to access money right now so they don't approach the bank," said Mairs in an interview with the Jamaica Observer last week. https://www.jamaicaobserver.com/business/dolla-going-ultra/ Question: Create a SWOT anaylist for Ultra Financier Limited
Dolla going Ultra
Microfinancier launches new business geared towards wealthy
DOLLA Financial Services Limited will be launching its newest subsidiary, Ultra Financier Limited, on November 1 to be led by CEO David Henriques.
The company was incorporated on August 3, according to the Companies Office of Jamaica records, but only received approval for its formation by its board of directors recently. The subsidiary will be injected with $350 million from Dolla's upsized $1.5-billion secured corporate notes (bond). Dolla is the sole shareholder with 1 million ordinary shares, with Dolla Chairman Ryan-Kwesi Reid, Dolla CEO Kadeen Mairs, Dolla Chief Financial Officer Trevene McKenzie, First Rock Private Equity (FRPE) Managing Director Christopher Yeung and Henriques as directors.
"Ultra is going to be lending to high net worth (HNW) individuals. We'll lend between $1 million to $100 million per person and we take luxury assets, prime investments, and properties as collateral. A person can carry their Cherry Gardens property valued at $200 million and borrow $80 million from us. Most times they [HNW] need to access money right now so they don't approach the bank," said Mairs in an interview with the Jamaica Observer last week.
https://www.jamaicaobserver.com/business/dolla-going-ultra/
Question: Create a SWOT anaylist for Ultra Financier Limited
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