More Small to Medium Businesses are expected to be established in the country.
This follows funding of K900, 000.00 presented yesterday to Bank South Pacific for the ‘lend fast’ business model.
BSP Manager Retail, Stanerd Wai, says this proves the positive outcome of the lending facility and quick turnaround of loans assisted by the Bank.
BSP says this proves the confidence of the successive use of the lending software facilitated by the Bank. The lendfast model has seen 1,500 loans facilitated since its inception 4 years ago. K79 million in total has been disbursed throughout the country.
Group Chief Executive Officer Robin Fleming says there is a fast turnaround and the right level of support will enhance and open-up the Risk Sharing Facility.
The Trade and Commerce Minister says the funding is to create more business opportunities in the country. He says, the Government wants to see more nationals benefit.
Out of the K79 million dished out under the lending facility, businesses in the Highlands and Momase Region have been the major customers.
The lending facility model is designed by BSP and supported by the International Finance Corporation.