Funding Societies Signs MoU with AMTC to Assist MSMEs

KEY TAKEAWAYS: 

• Funding Societies joins with AMTC for supporting MSMEs.
• Small-scale businesses can avail financial assistance easier via the MOU.
• All investors will yield up to 14% yearly earnings in the financial programme.

Funding Societies, tagged as Southeast Asia’s top electronic lending solutions, ties up with Asia Pacific MSME Trade Coalition (AMTC) via a closed memorandum of understanding (MOU). The agreement encompasses the vast scope of prospectiveness in business maturities for locally thriving Micro, Small and Medium Enterprises (MSMEs) last December 18, 2017. The correspondence will create Funding Societies as the pioneering finance ally of the AMTC in the industry. The main objective of the memorandum points to a harmonious and collective drive in boosting the development of participating MSMEs in the Asia Pacific.

The united efforts of the two aforesaid organizations are bound to start a pedagogic financing method conferences beneficial to newly engaged and restrained small businesses. The informative sessions will assist in guiding small business with very little capital or limited capacitated financial foundations. Simultaneously, marketing solutions produced by the AMTC for the MSMEs are directed to Funding Societies for earnest venture capitalism and support.
All participating businesses embarked by Funding Societies are subject to unrestricted membership with all rights to AMTC overall expedients.

Funding Societies intertwines the domestic MSMEs with prospective investors via the online marketing system. Such businesses can attain up to S$1 million for unsecured loans and invoice financing, done with just an effortless online workflow with rapid approval mechanism.

Currently, privatists and organizations can endow into the loaning system and gain return on investments of up to a maximum of 14% annually, greater than the usual traditional or deposit investment conventionals. Based on a recent Visa and Deloitte practical research, an alarming result of four out of ten SMEs located in Singapore remains inactive or unattended by the current financial establishments upon seeking financial assistance. Consequently, Singaporean based SMEs by 72% are constrained by finances in order to improve its capitalism and revenues. Such inadequacy to appropriate financial assistance as presently experienced by struggling SMEs requires immediate attention and support.

“Amongst the challenges an MSME faces throughout its journey, financing certainly tops the list. Funding Societies helps to bridge this gap for MSMEs in the region and is an ideal resource for members in our community. The AMTC is delighted to collaborate with Funding Societies, which is equally aligned in this commitment to bring resources and awareness to the MSME ecosystem” as expressed by Annie Fong, AMTC’s Project Director.

“We work closely with the MSME ecosystem as we are committed to supporting the growth of local businesses. The AMTC is a valuable partner that shares the same vision as us. We believe our collaboration will offer more holistic solutions for businesses.” stated by Kelvin Teo, Co-Founder and CEO of Funding Societies.

Auxiliary financial icons like Funding Societies finally aiding this loop through its perfect timing and virtuous financial strategy gives light and bigger expansion chances for the smaller domestic market.

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