“There are many quotas for lines of productive investment in the ecosystem of public and private banks. The issue is to understand how the loans are executed according to the financial institution, the interest rate -which is usually below inflation- and the size of SMEs”, he described.
“The most important thing for companies in the sector is the speed of credit allocation, beyond the rate and the term. That is one of the reasons why leasing is not one of the most demanded products, despite the advantages taxes it contains,” he clarified.
In this sense, Milano stressed that “SMEs not only need credit and interest rates, they require financing to be fast and online.”
The impact of technology on SMEs
“The bureaucracy causes opportunities to be lost, but today technology is playing a fundamental role. This allows a check to be sold in one minute through an app, when it used to take fifteen days,” the Banco Supervielle executive exemplified.
And he remarked: “Technology can make you have a credit rating in 24 hours and access a loan online, with only the ID of the owner of the SME, its balance and registration with the General Inspectorate of Justice (IGJ)” .
“This ecosystem is virtuous for fintechs, banks and the final consumer of financial services,” said the specialist.
“In issues such as foreign trade, the process is done in minutes and there is impressive treasury efficiency and compliance,” Milano explained.
For the expert, “the value of banks lies in quickly advising the client on issues of regulatory changes, especially when it is necessary to import and/or export.”
“What has changed with the pandemic is that customers have accepted virtual attention to complex issues. This is seen in our video call service, which saves SMEs the time of going to the branch,” he illustrated.
“SMEs can make a thousand payments per day to their employees through a specialized product that reduces administrative times and provides quality service,” concluded Milano.
2023-07-11 21:37:31
#affirm #SMEs #speed #credit #allocation
