Transforming SME Financing Through Financial Technology Innovations
Small and medium-sized enterprises (SMEs) are vital to global economic growth, contributing significantly to employment, innovation, and community development. Access to financing remains a persistent challenge for many SMEs, with traditional lending institutions often unable or unwilling to meet their needs. The SME financing gap arises from several factors, including stringent credit requirements, lengthy loan application processes, and high operational costs associated with serving smaller businesses.