Traders, suppliers and other persons involved in small and medium-sized businesses can now be able to execute their deals without having to wait for banks to give them financial credit, thanks to a new technology, dubbed 'Kountable ICT Marketplace' platform.
According to Chris Hale, the chief executive of Kountable Ltd, introducing such a portal to the market helps SMEs to easily do businesses without struggling to look for financial credits, which most of the banks hardly offer.
“All this is done by using a trade finance model. Lending isn’t the only type of financing that entrepreneurs need. Trade finance has been around for hundreds of years for bigger transactions, but it took technology to make it feasible for smaller entrepreneurial businesses,” he explained. Read more. Source | New Times