P2P lender Validus sees 50-75% spike in applications for unsecured SME loans
With focus on SMEs, it plans tie-ups with more corporates in S'pore to provide loan facilities to their supply chains
Add BT as a preferred source
Singapore
SINGAPORE peer-to-peer lender Validus Capital in March registered a 50 to 75 per cent jump in applications for unsecured loans, a sign of credit demand from cash-strapped enterprises hit by the virus outbreak.
The stronger pipeline of such "credit-approved" borrowing requests - which include working capital loans via invoice financing - come from small- and medium-sized enterprises (SMEs) that include those rejected by banks when applying for existing liquidity relief, said Validus co-founder Nikhilesh Goel.
TRENDING NOW
Canada’s fight with the US has far bigger stakes than trade
Singapore’s new data centres must use renewables. Can they overcome the hurdles?
Record remittances fail to shield Philippine peso’s slide from mounting pressures
Air India investment has ‘not adversely affected’ SIA’s ability to serve Singaporeans for now: Jeffrey Siow
