Digital Platform Loans out R3bn to SMEs

SMME's receive three billion rand cash injection from big four bank's digital loan platform.

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Ten thousand SMMEs have accessed R3 billion in loans through Standard Bank’s BizFlex digital loan facility over the last three years.

SMEs make up the vast majority of South African businesses and account for nearly 40% of GDP.

Gone are the days when crippling fixed monthly loan repayments were expected from us even when our income was inconsistent or unpredictable… we set out to launch a digital, fixed-cost, pay-as-you-earn loan facility – an ambitious undertaking for a business loan”.

Darren Segal, head of Standard Bank’s Moonshots

To read the in-depth article visit ITWeb, ‘Standard Bank’s digital platform loans out R3bn to SMEs’.

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