Denise Leonhard, Senior Director of Global Corporate Strategy for PayPal, Targets Three Major Areas to Benefit SMEs During the SME Finance Forum 2018
During the Global SME Finance Forum 2018, Denise Leonhard, Senior Director of Global Corporate Strategy for PayPal, detailed the development of PayPal’s lending service. She also honed in on three major points that she believes will benefit SMEs.
“When we think about opening up the internet for [SMBs] success [there] [are] three different points...Access to be able to sell online...Enabling them to get their funds out...Working capital to grow their business,” she shared.
Leonhard spoke of how PayPal’s access to a customer’s transactional data helps in providing working capital loans to SMEs.
“...Because we have that transactional data, we can provide more flexible terms. If you are a seasonal business, you won’t need to owe as much every month. We can ‘ebb and flow’ based on what’s coming in,” Leonhard added.
More than 600 attendees represented 208 institutions and 80 countries at the Forum. See event highlights, testimonials, other expert interviews, 13 TechPitches, session presentations and a recap of the Study Tour to 12 innovative financial institutions on the event website: https://globalsmefinanceforum.org/2018/