News

UN General Assembly creates International Day for small, medium-sized enterprises

Recognizing the importance of micro-, small- and medium-sized enterprises in achieving the new global development goals, the United Nations General Assembly today designated 27 June as International Day for those actors.

News

News

SME lending: Small is beautiful for banks and non-banks
Lending to small firms in Europe has traditionally been the preserve of the banks; they have the networks and relationships to originate deals for these types of clients, but non-banks now have this business firmly in their sights. And as more banks and funds start to cooperate in this space, the latter can expect to appear more frequently in...
New lending standards a 'win-win' for lenders and businesses
With potentially thousands of SMEs lining up to secure funds necessary for expansion or consolidation, new lending standards have now been introduced to ensure the safety of those borrowing money. The new Standards of Lending Practice will replace the existing Lending Code, bringing enhanced protections for a wider range of businesses. In addition...
Member News: 250,000 African merchants will be financially empowered by Masterpass QR
Merchant service provider, Kopo Kopo, announced their partnership with Mastercard today to roll out Masterpass QR across 11 markets in Sub-Saharan Africa, impacting over 250,000 micro and small businesses over the next five years. The announcement was made during the inaugural Financial Times Africa Payments Innovation Summit, in Nairobi, Kenya...
Approaching SME Finance Like Personal Finance
With greater confidence in the U.S. economy and small business confidence in the current presidential administration, alternative lending is yet again at a crossroads. The latest Biz2Credit Small Biz Lending Index revealed, for the seventh month in a row, that large U.S. banks increased their loan approval rates to SMEs in February, with approval...
UN General Assembly creates International Day for small, medium-sized enterprises
Recognizing the importance of micro-, small- and medium-sized enterprises in achieving the new global development goals, the United Nations General Assembly today designated 27 June as International Day for those actors. In a resolution adopted without a vote, the 193-member body also invited all stakeholders, including Member States, UN entities...
 Westpac: Cash flow now more important than assets in SME lending
Westpac is increasingly assessing cash flow rather than hard assets when providing funding to small businesses, as technological disruption and shorter business cycles create new challenges for bank lending. Lyn Cobley, chief executive of Westpac's Institutional Bank, said the group was being forced to look beyond industry fundamentals and...
Member News: Mastercard joins hands with Maestrano to launch Asia Pacific’s first SME cloud platform with integrated business applications
Recognizing the integral role small and medium enterprises (SMEs) play in developing Asia Pacific’s economies, Mastercard together with Maestrano today announced a strategic partnership to encourage SME development by enabling issuing banks across the region to leverage cloud-based technologies. The partnership aims to help SMEs reduce operational...
Member News: Bangladesh's Brac Bank returns to its roots
A management shake-up and a renewed focus on financing small and medium-sized enterprises have boosted Brac Bank’s performance. But CEO Selim Hussain says he is nowhere near finished when it comes to unleashing the bank’s potential. When Selim Hussain became CEO and managing director of Brac Bank in November 2015, what he found there surprised him...
Factoring services can bridge SME gap in Africa
Factoring services can bridge the gap in the financing of small and medium-sized enterprises (SMEs) in Africa by addressing the challenges the SMEs face in accessing funding for business activities. This is according to Kanayo Awani, Managing Director of the Intra-African Trade Initiative of the African Export-Import Bank (Afreximbank). Awani was...
Member News: Commonwealth Bank of Australia targets SMEs with new big data analytics platform
The Commonwealth Bank of Australia (CBA) has launched a new business analytics platform that aims to provide small-to-medium enterprises (SMEs) with access to big data. The bank's new Daily IQ 2.0 platform brings together online tools and data feeds from CBA's pool of 1.2 billion monthly transaction records, which the bank said will allow SMEs to...