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Financing and high credit costs among biggest issues faced by SMEs in India, says FICCI report

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Small and Medium Enterprises (SMEs) in India face inherent challenges in financing despite several schemes and incentives by the government, according to a new report by the Federation of Indian Chambers of Commerce & Industry (FICCI). The FICCI report highlights the resilience and transformation of SMEs in India. https://www.cnbctv18.com/business/companies/financing-and-high-credit-costs-among-biggest-issues-faced-by-smes-in-india-says-ficci-report-18100161.htm

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Emirates Development Bank launches supply chain financing for SMEs with Trade Capital

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Emirates Development Bank, the key financial engine of UAE economic development and industrial advancement, has inked a Memorandum of Understanding (MoU) to create supply chain finance and working capital solutions for SMEs in collaboration with Trade Capital Partners (TCP). https://english.alarabiya.net/business/economy/2023/08/17/Emirates-Development-Bank-launches-supply-chain-financing-for-SMEs-with-Trade-Capital

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Alba Bank and Mambu collaborate to redefine SME lending in the UK

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The collaboration comes as Alba Bank strives to meet the underserved needs of SMEs by developing innovative products and offerings. By utilising Mambu’s cloud banking platform, Alba Bank aims to bolster its composable approach, thereby increasing its agility and shortening time-to-market. Alba Bank, holding a UK banking licence, has consistently pushed the envelope to support

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N.E.A.T Microcredit Introduces Collateral-Free SME Loans

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N.E.A.T Microcredit is giving opportunities to businessmen, women, and young entrepreneurs to grow their businesses by giving out SME loans with zero collateral. The fast-growing company, established in 2017, is using this platform to offer its economic growth program to establish and sustain small and micro businesses and improve Nigeria’s economy to build companies that

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SIDBI PLANS TO RAISE RS 10,000 CR FROM RIGHTS ISSUE NEXT FISCAL TO EXPAND EQUITY CAPITAL

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The central government owns 20.8% in SIDBI, while the State Bank of India holds 15.65%, and Life Insurance Corporation 13.33%. The rest of the equity is held by other public financial institutions and banks. The shareholders will subscribe to the proposed rights issue. The lender’s loan growth optimism comes from the demand for direct financing

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Expect slower SME loans in 2023 but still a growth engine: AmBank

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“I hope we can sustain this double-digit growth, as SMEs are an essential business sector for Malaysia, whether it is in food and beverages, manufacturing, services, or other areas,” he told reporters at the AmBank SME BizCONFERENCE here today. Sulaiman said financing for SMEs carries a one to two per cent higher interest rate than

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EDB launches $27m solar energy financing programme for SMEs in UAE

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Emirates Development Bank, the state-owned lender focused on financing the UAE’s priority sectors, has launched a Dh100 million ($27.2 million) solar energy finance programme as part of the country’s 2050 net-zero targets. https://www.thenationalnews.com/business/banking/2023/09/07/edb-launches-27m-solar-energy-financing-programme-for-smes-in-uae/

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