LatamList – Finplace partners with the National Commercial Development Association (Anfac) to increase available funding for SMEs in Brazil. The aim is to increase the number of financiers to 300 by the end of the year.
The Finplace marketplace lists financial institutions and banks that offer credit to SMEs. Entrepreneurs can compare financing rates, ease of payment, and other aspects of the credit offer to select the most suitable for their business.
With the addition of Anfac to the platform, there are now 150 financers registered for entrepreneurs to choose from.
Many SMEs often struggle to meet deadlines due to delayed customer payment processing. The current pandemic has also made the economic situation of many businesses even more difficult. In just six months of existence, the marketplace has funded more than $7M (R$35M) to SMEs to support them financially.
“[There] was a sharp drop in offers [of financing] although demand remains strong,” said Felipe Avelar, CEO of Finplace. “…payment from customers sometimes takes 60 days to fall and the deadline for paying suppliers is 30 days,” he explained.
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