Scheme benefits SMEs

Bank South Pacific Financial Group Limited (BSP), under it’s credit enhancement loan scheme, has since 2020 assisted more than 3,000 small-to-medium enterprises (SMEs) with loans.
BSP retail bank group general manager Daniel Faunt told The National that the bank continued to support the SME sector, not only through the provision of lending facilities, but also through the provision of banking services.
In addition, BSP in partnership with the Australian Business
Volunteers (ABV) has extended the rolling out of its Your Enterprise Scheme (Yes) Grow programme to SMEs to support them in their growth and development.
“Under the scheme, the ABV in conjunction with BSP, developed a four-week Yes Grow programme for small businesses.
“Participants were (educated on) how to grow their business,” he said.
Owners of SMEs in Port Moresby, Lae and Mt Hagen attend
workshops, one-to-one coaching and mentoring sessions with business volunteers.
“BSP understands the importance of driving economic growth and this programme reflects BSP’s commitment to supporting SMEs by not only providing financial resources but also by sharing financial expertise and industry insights to help them succeed,” Faunt explained.
Meanwhile, BSP has been working on managing queues at it’s branches around the country.
One of the initiatives is the introduction of meet-and-greet officers who not only manage the queues but also respond to queries from customers’.
Faunt said the bank would continue to invest in initiatives designed to improve customer experience.
It includes the establishment of a centre of excellence to manage customer complaints, longer trading hours in selected branches and Saturday trading.
BSP is also optimising its automated teller machine services to ensure that they are available for customers’ convenience.
Faunt said the Porgera branch reopened its doors on April 15, one year after it was closed due to the on-going security issues.