SGeBIZ, a leading e-commerce platform for small and medium enterprises (SMEs) in Singapore, has partnered with Funding Societies, a peer-to-peer lending platform, to provide a Buy Now, Pay Later payment solution for SMEs in the country. This partnership aims to help SMEs improve their cash flow and access to financing, especially during these challenging times brought about by the COVID-19 pandemic.
The Buy Now, Pay Later payment solution allows SMEs to offer their customers the option to purchase goods and services on credit, with the flexibility to pay for their purchases in installments over a period of time. This can help SMEs attract more customers and increase sales, as it provides consumers with a more convenient and affordable way to make purchases.
Through this partnership, SMEs on the SGeBIZ platform will be able to access Funding Societies’ financing solutions, which include invoice financing, working capital loans, and trade financing. This will enable SMEs to secure the funding they need to grow their businesses and take advantage of new opportunities.
Funding Societies’ technology-driven approach to lending allows SMEs to access financing quickly and easily, without the need for lengthy approval processes or collateral. This can be especially beneficial for SMEs that may have difficulty obtaining traditional bank loans due to their size or lack of credit history.
By offering a Buy Now, Pay Later payment solution and access to financing through Funding Societies, SGeBIZ is helping SMEs in Singapore overcome some of the key challenges they face in today’s competitive business environment. This partnership demonstrates the power of fintech innovation in supporting SMEs and driving economic growth in Singapore.
Overall, this collaboration between SGeBIZ and Funding Societies is a positive development for SMEs in Singapore, as it provides them with the tools and resources they need to succeed in today’s digital economy. By leveraging technology and partnerships like this one, SMEs can thrive and continue to contribute to Singapore’s vibrant business landscape.