The Papua New Guinea Centre for Excellence in Financial inclusion has launched a new online tool to help small to medium enterprises in the country.This tool will enable them to search for loan options across a range of different providers, compare terms and interest rates and save products to view later.
CEFI executive director Saliya Ranasinghe said CEFI is pleased to be working alongside Business Link Pacific to launch the new Finance Finder tool, which is an important online tool that CEFI with BLP will roll out in PNG and with assistance and recommendations from all stakeholders in the financial and MSME sector.
Bank of PNG assistant governor Ellison Pidik said, the SME loan product guide released last year by CEFI was the first step to bring this information together and the SMEs will benefit from the finance finder that provides local lending products available that SMEs will be able to identify the most suitable product for them.
“Finance finder provides the opportunity for small businesses to search for local financing options to help their businesses grow.
“The unique one-stop-shop for MSMEs to search for a suitable financial lending product that meets their needs, also gives licensed financial institutions, including commercial banks, micro banks, finance companies, and savings and loans companies the opportunity to market their products online without any cost,” Mr Pidik said.
“Finance finder work in partnership with banks and financial institutions to provide the latest information about financial products for businesses, currently financial institutions as MiBank, Kina Bank, BSP Financial Group, People’s Micro Bank, Women’s Micro Bank, Kada Poroman Microfinance and Credit Corporation finance are displaying information about the latest SME products,” he said.
Mr Knapp said that, businesses will be able to look at finance options online as well as applying through BLP for help with their applications and the list of banks and financial institutions will continue to grow with new products and partners.
Statement / Post Courier / PNGehow