CreditEnable’s new initiatives to support SMEs during C19

SF and UK Government partner CreditEnable, have come up with several new initiatives to support SMEs during the Covid-19 pandemic.

SMEs in emerging markets are particularly vulnerable due to their often having little credit history, collateral or track record, and relying on capital from the informal sector.

CreditEnable, which uses a global technology platform to unlock large scale bank lending, have launched the following initiatives:

  • We Move Forward Campaign: An initiative to help SMEs to gauge their business stability and assist them in accessing working capital to meet their business needs
  • Business Stability Health Check: A free, fully digital self-assessment tool to help businesses assess their financial health, loan eligibility and provide recommendations to improve
  • Sector-focused Targeting: Ambulance loan financing campaigns. CreditEnable understands healthcare is top priority at present and this will extend its support to this sector and help them with affordable financing
  • CAIT Conversations: Discussions with its partner, the Confederation of All India Traders (CAIT) on availing finance for SMEs in the Covid and post-Covid scenario.

As well as this, through its “Start Back Up India Campaign” which builds strategic partnerships with several significant players in the Indian market, CreditEna has the potential to reach an additional one million SMEs.

In this article, CreditEnable CEO Nadia Sood and Investor/Advisory board member Aditya Ghosh share views on the proposed campaign and on steps the Indian government could take to help MSMEs that have suffered the brunt of the Covid-19 shock.

You can follow CreditEnable’s Covid-19 support efforts on social media via #WeMoveForward.