Coming soon: a central platform for SME loans?
It will cut paperwork, save time; PwC is getting lenders onboard and hopes to roll it out by early next year
Add BT as a preferred source
Singapore
IMAGINE a single platform where all of some 270,000 small and medium-sized enterprises (SMEs) here can get a loan quote from multiple banks - with just one application.
This could slash the time taken to secure a loan from an average of seven weeks down to two, with SMEs able to track their status online without having to wonder if their request has disappeared into the void. That could take place as soon as early next year, if consultancy PwC has its way.
TRENDING NOW
Singapore property portal Ohmyhome sells real estate business for US$1 on mounting debt, losses
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
China’s capital crackdown: Why Hong Kong will still keep its edge over Singapore, others
Singapore to introduce new corporate structure for insurance, speed up approval of new fund types: DPM Gan
