Boost’s Post

Maybank set to loan RM18bn to SMEs in 2024. Small and medium sized enterprises in Malaysia are set to benefit from financing worth RM18 billion (around £3bn) from Malayan Banking Bhd (Maybank) this year. The figure represents an increase of 13% in SME financing, said group chief executive officer for community financial services John Chong, who said the bank released close to RM17 billion in SME financing last year, of which RM5 billion was sustainable financing. This brought total financing for SMEs to RM66 billion from 2019 to 2023. “We provide expert guidance and tailored support through practical tools, consultancy and advisory services, certification, and accreditation facilitation, as well as financing to cater to all their personalised business requirements,” he said at the launch of myimpact SME Hub by Prime Minister Anwar Ibrahim. Maybank’s myimpact SME Hub is a one-stop integrated and holistic ecosystem for Malaysian Small and Medium Enterprise (SMEs), “offering value-based solutions established on sustainable and ethical principles”. The bank said it also serves as a knowledge hub and support system “to facilitate and partner SMEs in their journey to transition towards sustainable practices”. Read full news article on Malaysia's SMEs here - https://lnkd.in/eSveFg-k #smes #finance #accounting #business #articles #news #banking #asia #malaysia #qualifications #students

More financing for small businesses and entrepreneurs in Finland! 🚀 💬 “NIB’s partnership with Nooa Savings Bank will allow us to extend our lending to smaller Finnish companies that we would otherwise be unable to finance directly,” comments our André Küüsvek on NIB's second loan agreement with Nooa Säästöpankki. “It also alleviates credit constrains for entrepreneurs, fostering productivity growth in the country.” Read more: https://lnkd.in/d-FvwdTy Säästöpankkiryhmä #SustainableFinance #Finland #SME

The Hong Kong government announced new enhancements to the SME Financing Guarantee Scheme (Small Medium Enterprises), allowing companies to apply for principal moratorium for 12 months for new & existing loans, loan guarantee periods of 80% products extended to 10 years & 90% products extended to 8 years, partial principal payment options offered to new loans.  Read - https://lnkd.in/gnNWeZkP follow Caproasia | Driving the future of Asia The Hong Kong government has announced new enhancements to the SME Financing Guarantee Scheme (Small Medium Enterprises), allowing companies to apply for principal moratorium for 12 months for new & existing loans, loan guarantee periods of 80% products extended to 10 years & 90% products extended to 8 years, partial principal payment options offered to new loans. Hong Kong Monetary Authority (HKMA) 16/10/24: “The Chief Executive announced in “The Chief Executive's 2024 Policy Address” today (16 October) that, for both existing and new loans, borrowing enterprises under the SME Financing Guarantee Scheme will be allowed to apply for principal moratorium for up to 12 months while the maximum loan guarantee periods of the 80% and 90% Guarantee Products will be extended to ten years and eight years respectively. In addition, the partial principal repayment options will be offered to new loans under the two guarantee products. These measures aim to alleviate the repayment pressure on borrowing enterprises, helping them address challenges encountered during economic restructuring. HKMC Insurance Limited will follow up with the lending institutions on the implementation details of the above new measures, aiming to roll them out within November this year. Borrowing enterprises may approach their lending institutions to discuss the arrangements at that time.”

Tarabut & geidea sign MoU to explore game-changing SME financing solutions in Saudi Arabia https://lnkd.in/evEkpeKW #financing #business #news #sme #saudiarabia #mena #banking #payments

The Future of SME Financing in South Africa: Trends and Innovations. 💻 In a rapidly evolving economic landscape, the future of SME financing is set for a transformative shift, driven by groundbreaking technologies and innovative financial models. Explore how new technologies and financial models are transforming SME financing via our blog> https://lnkd.in/ebC4yYsx #SASFA #SMEFinance #BusinessFunding #FinancingTrends

Helping Sri Lankan SMEs with financial solutions for every stage of growth. Partner with Cargills Bank and drive your business forward! 🚀 Learn more at www.cargillsbank.com #SMEBanking #CargillsBank #BusinessGrowth

The case for SME financing remains as compelling as ever! The new World Bank report, "Unleashing Productivity through Firm Financing", demonstrates that closing the SME financing gap not only promotes SMEs' productivity and resilience, but also boosts national economies. For example, it could lead to productivity gains of up to 86% in middle income countries. So, what needs to change? In our new World Bank report "Boosting SME Finance for Growth: The Case for More Effective Support Policies" we recommend government authorities in emerging markets and developing economies to prioritize the implementation of eight bold actions aimed at developing a more robust enabling environment for debt and equity financing, as this has substantial returns at limited fiscal costs. At the same time, recognizing the need for financial support programs, the report provides a set of recommendations to improve their effectiveness, ensuring they reach underserved sectors while mobilizing private capital. Check our recent blog and reports on the topic! #worldbank #SMEfinance

Bridging Africa’s SME Funding Gap with Private Credit 🚀 The funding gap in Africa is pegged at around $330 billion, but from my experience at Sote, I believe it's even larger. The barrier? Traditional collateral remains a key requirement for banks, despite claims otherwise. The result? Many strong SME and transactions are ignored due to lack of collateral, and some riskier ones are greenlit simply because of "perfect collateral." This gap also exists for consumer lending. This insight inspired me to explore alternative lending models and how we can create effective private credit strategies that fill this gap. To do this, I teamed up with Aum Thacker from TLG Capital and A.J. Davidson from SixPoint Capital Management, both of whom bring deep expertise to this discussion. 🌍 Why are African banks still risk-averse in lending to SMEs? 💡 How can private credit step in to support businesses underserved by banks? 🚀 What should fintechs do to structure scalable lending operations tapping into global private capital? The key as per the image is to have your ducks in a row from day one. These are the questions we dive into, unpacking the state of African lending, the private credit market, and actionable strategies for fintech founders. Key takeaways: 🏦 Traditional collateral remains a major barrier to credit for SMEs. ⚖ Basel III regulations have led banks to prefer government bonds over private sector lending. 💼 Private credit offers an alternative, yet requires deep financial structuring and understanding. Companies mentioned TLG Capital, SixPoint Capital Management, Moove, BluePeak Private Capital, Vantage Capital, Ares Management Corporation, Apollo Global Management, Inc., Ninety One Lendable and many others. (Link in Comment)

8 Billion SAR in Financing Provided to SMEs in 2023 by the Small and Medium Enterprises Bank 🔸️CEO of the Small and Medium Enterprises Bank SME Bank, told "Al-Eqtisadiah" that the financing provided to #SMEs through the "#Funding Portal" and its partners reached about 8 billion SAR ($2.13 billion) in 2023, through 25,000 #financing deals. Of this, 1 billion SAR ($266 million) was financed for about 850 establishments by the bank's private portfolio. 🔸️About the Small and Medium Enterprises Bank: ▪️The Small and Medium Enterprises Bank SME Bank, established in 2021, is a #SaudiGovernment bank aimed at supporting and developing the #SME sector in the #Kingdom. Since its inception, the bank has executed financing operations totaling 22 billion SAR ($5.87 billion) through more than 45,000 deals. ▪️ Financial and Banking Partners: The bank collaborates with various financial and banking partners, including commercial banks, financing companies, and investment funds, to provide financing solutions for SMEs. ▪️Supported Activities: The bank supports a wide range of activities, including innovation and technology, #tourism, #industry, and #logistics. #smallbusiness #entrepreneurship #businessgrowth #funding #financing #economicdevelopment #smes #finance #wealth #investment #realestate #business #money

Finbee Verslui Raises 35 Million EUR Investment to Focus on Business Financing in Lithuania "Our mission is to empower the country's small and medium-sized businesses to grow by providing them with the finance they need. We already have supported over 3,000 customers since inception, with 2,000 active, and have maintained an average annual growth of 60% in loan originations for the last 5 years. We are thankful for the continued support from our investor community to finance these loans, but increasing customer demand has led to a funding gap. Until now, we have been increasing liquidity with our own funds, but this partnership will enable us to grow at much faster pace", comments Tomas Maciulaitis, CEO of Finbee Verslui. https://lnkd.in/eyms_CSB Pollen Street Capital Ethan Saggu #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews