Small Business Plan In Pakistan
IFC has also trained close to 100 lenders in how to reach out to SMEs, whose needs are often different from those of other clients.We also work with banks to help them develop a suite of financial services tailor-made for smaller firms.
Reversing the Trend There are close to 3 million small and medium enterprises in Pakistan, which account for 30 percent of the country’s gross domestic product. They often struggle to get loans from banks, which see them as risky investments.
Electrum is one of many companies that have been helped by the lender, which in late 2011 launched a ground-breaking suite of financial services aimed squarely at smaller businesses.
IFC played an instrumental role in that, advising the bank as it developed a new model for lending to small and medium enterprises.
It provided smaller businesses with an easy-to-manage bank account, financing to cover day-to-day operations, loans that help firms expand, and assistance in trading across borders.
It also offers services in English and Urdu, the latter something most lenders don’t provide.