Finance finder tool launched

Business

BUSINESS Link Pacific (BLP) yesterday launched a new finance finder tool to provide information about the latest SME financial products and services in the country.
This was done in partnership with the Centre for Excellence in Financial Inclusion (Cefi) to find sustainable solutions to support the growth of the private sector.
The new finance finder is available online for small-to-medium enterprises (SMEs) in PNG allowing businesses to search for loan options across a range of different providers, compare terms and interest rates and save products to view later.
This finance finder tool is designed to support SMEs to find, in one place, the financing options that are right for them.
It works in partnership with banks and institutions to provide the latest information about financial products for businesses.
Currently, financial institutions such as MiBank, Kina Bank, BSP Financial Group Ltd, People’s Micro Bank, Women’s Micro Bank, Kada Poroman Microfinance Ltd and Credit Corporation Finance Ltd display information about the latest SME products.
This list will continue to grow with new products and partners, according to Cefi.
Cefi executive director Saliya Ranasinghe said they were pleased to be working alongside BLP to launch and roll out the finance finder tool in PNG.
Bank of PNG assistant governor Ellison Pidik said the SME loan product guide, released last year by Cefi, was the first step to bringing this information together.
“The launch of the online platform of the finance finder will benefit SMEs in the country by providing information about local lending products, SMEs will be able to identify the most suitable product for them,” he said.