Small businesses have been suffering from the trade finance gap since the world plunged into the Covid-19 pandemic. And to save them from this problem, fintech has become the right platform to unlock access to finance.
The Fintech platform acts as a marketplace for small and medium enterprises to access trade receivable financing. According to the Co-founder and Chief Executive of Invoice Financing Marketplace Incomlend, Morgan Terigi, it is becoming a lucrative platform that allows investors to provide new credit lines to struggling business houses.
Through fintech platforms like Incomlend, family offices, high-net-worth individuals, institutional investors are all starting to offer new credit lines to small businesses. The credit lines have become a lifesaver for small businesses as Covid-19 has increased the cost of the entire logistics chain. Businesses require extra money to accommodate basic logistical activities like providing transportation for their products.
Read more: https://www.emeriobanque.com/news/fintechs-becoming-the-new-lines-of-credit
