News

Member News: Mastercard to Expand Technology Hub in New York City

Mastercard jointly announced with Governor Andrew Cuomo that it will add to its New York state operations with the expansion of its New York City Technology Hub. The company will relocate its current tech hub operations to a new Flatiron location at 150 Fifth Avenue and nearly triple its work force through the creation of over 470 new jobs by 2024.

News

News

IFC Invests €15 Million in Private Equity Fund to Help SMEs in North Africa
IFC is investing €15 million in a new private equity fund by AfricInvest, a leading private equity fund manager, to help expand access to finance for small and medium enterprises in North Africa. The investment is part of a larger effort to support economic growth and create jobs. Globally, the Middle East and North Africa region ranks low in...
Member News: Kabbage Delivers $4 Billion to More Than 130,000 Small Businesses
SME Finance Forum member Kabbage, Inc. announced that it has extended over $4 billion to more than 130,000 small businesses, serving the largest customer base than any online small business lender. These landmarks represent an approximate 30-percent increase in total funding and total customers served since the company’s last milestone...
Member News: Mastercard to Expand Technology Hub in New York City
Mastercard jointly announced with Governor Andrew Cuomo that it will add to its New York state operations with the expansion of its New York City Technology Hub. The company will relocate its current tech hub operations to a new Flatiron location at 150 Fifth Avenue and nearly triple its work force through the creation of over 470 new jobs by 2024...
Intuit Wants to Lend Small Businesses Money
Through Intuit’s small business lending product, called QuickBooks Capital, it will be a direct lender. Intuit is aiming at the 2.4 million business owners who use QuickBooks, who can apply for a loan from within the platform. Many of them can be approved within minutes, using what the company said is an artificial intelligence-powered algorithm...
ADB, Deutsche Bank Enter Supply Chain Finance Deal Supporting SMEs in Developing Asia
The Asian Development Bank (ADB) and Deutsche Bank AG today announced an agreement to enter into a supply chain finance (SCF) transaction under ADB’s Supply Chain Finance Program (SCFP). The SCF will provide over $200 million in annual financing to small and medium-sized enterprises (SMEs) across developing Asia. The program will support SME...
EBRD, EU and Turkish Government Support for Female Entrepreneurs Tops €300 Million
In 2014, the EBRD made an ambitious commitment to promote women’s entrepreneurship in Turkey, pledging €300 million in dedicated credit lines to local banks for on-lending to companies run by women. Through their extensive branch networks, loans averaging €15,000 were provided to 14,400 companies in 79 out of 81 Turkish provinces. Two-thirds of...
EBRD Develops Local Currency Lending to SMEs in Ukraine
The EBRD is providing fresh funds to develop local currency lending and SME support mechanisms in Ukraine. The use of local currency gives greater comfort to potential borrowers, who will not be exposed to foreign exchange risks. The EBRD is providing a four-year local currency loan in Hryvnia (UAH) worth US$ 25 million equivalent to PJSC...
EBRD Provides €20 Million Loan to UniCredit Leasing Croatia
The EBRD is providing UniCredit Leasing Croatia with a €20 million loan for the expansion of leasing finance especially to micro, small and medium-sized enterprises (MSMEs). The availability of additional funds is expected to strengthen the growth of Croatia’s economy. Leasing is the second most widely used financing instrument following bank...
Member News: BNP Paribas Buys Stake in SME Credit Specialist Caple
BNP Paribas Asset Management entered into a strategic alliance with European alternative SME credit specialist Caple. Through a strategic alliance and the acquisition of a 10 percent stake in Caple, BNP Paribas Asset Management is providing an innovative platform to offer alternative credit to European small and medium-sized enterprises (SMEs)...
EBRD commits €15 million to Mediterrania Capital III Funds to Boost SMEs in Egypt, Morocco and Tunisia
The EBRD is supporting small and medium-sized businesses in Egypt, Morocco and Tunisia with a €15 million equity investment in the first close of Mediterrania Capital III LP (MC III), which could increase up to €35 million in subsequent closings. This is the third fund of Mediterrania Capital Partners, a regional private equity firm focused on...