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
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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.
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