Supreme to sell Evolve loan portfolio
Published:Friday | January 2, 2026 | 12:08 AM
Supreme Ventures (SVL) announced that discussions are under way to divest the loan portfolio of its subsidiary, Evolve Loan Co, along with select assets, to microlender Dolla Financial Services Ltd.
SVL will maintain its exposure to future growth through its equity stake in Dolla Financial.
“This transaction reflects disciplined capital allocation and a clear focus on shareholder value,” said Gary Peart, executive chairman of Supreme Ventures, in a release. “We are strengthening the group’s financial position today, while preserving long-term upside through a more scalable and capital-efficient structure.”
SVL issued loans worth US$2.26 billion to borrowers, of which three-quarters are classified as current or due within the short term.
Supreme Ventures, best known in Jamaica for its lottery and gaming operations, acquired microlender Mckayla Financial Limited in 2022 and rebranded it as Evolve Loan Co. The move was part of a diversification strategy aimed at tapping into the fast-growing microcredit sector, which had been formalised under the Microcredit Act and regulated by the Bank of Jamaica. Currently, the Bank of Jamaica lists 111 licensed microlenders across the island. Evolve offered small loans, digital lending solutions, and sought to build a portfolio that complemented SVL’s existing customer base.
However, lending is a capital-intensive business. Unlike gaming, which generates strong cash flows with relatively low balance sheet risk, loan portfolios tie up capital and expose companies to credit risk concentration. By 2025, SVL faced the challenge of balancing its growth ambitions with prudent capital management. The company’s board signalled that while lending had potential, it was not aligned with SVL’s long-term strategy of maintaining a high-return, asset-light model.
The decision to divest Evolve’s loan portfolio and select assets to Dolla Financial Services Limited reflects this shift. Dolla, a listed microcredit company, has been aggressively expanding its footprint in Jamaica and the wider Caribbean. For Dolla, acquiring Evolve’s portfolio strengthens its scale and enhances its lending platform. For SVL, the transaction reduces exposure to loan defaults, optimises its balance sheet, and improves risk-adjusted returns.
Importantly, SVL is not walking away entirely. It retains a 15 per cent equity stake in Dolla Financial, ensuring it still participates in the upside of Jamaica’s microcredit growth story without bearing the direct risks of managing a loan book.
Evolve itself will pivot to an asset-light operating model, focusing on loan origination, digital enablement, and fee-based income streams. This means it will act more as a facilitator of loans rather than holding them on its balance sheet, earning fees without tying up capital.