How the changes in lending have created a new approach to solving the problem
Experts from many countries predict another economic crisis that will affect almost all states. Therefore, the right position is to take care of minimizing the risks for each area even today. For this purpose, many companies are reviewing their cost optimization strategy without compromising profitability. Belarusian banks have presented changes in lending, which may become a profitable option for maintaining business.
The country’s financial sector is introducing new approaches that have helped to develop and increase the number of small and medium-sized entrepreneurs. Within 7-8 years, credit rates in most banks have fallen from 90% to 10-15%. This has significantly increased the demand for this type of service, both from commercial companies and consumers.
Last year small and medium-sized businesses accounted for 25% of total GDP, while in developed countries they accounted for 75%. To regulate the market, norms and restrictions were introduced for maximum loan rates. And if before such innovations the segment was developing quite actively, now its participants have taken a cautious position. In view of the current situation, experts expect a decrease in growth this year. The level of the previous period with an increase by $2.5 billion is not definitely reached.
Having assessed the seriousness of the problem, domestic startups have decided to introduce a product to the market that will help businesses. The online exchange is looking for funds for a loan according to the requirements and needs of the entrepreneur.
Before launching the resource, its creators conducted extensive research. Over the course of 9 months, they analyzed various algorithms, studied the problems most often faced by borrowers and their needs.
The main focus here is on small and medium-sized businesses. When looking for lending options, this niche has more problems than large companies, with which banks cooperate more willingly. The service regularly monitors new offers from various financial institutions and helps entrepreneurs to find a loan under optimal conditions for them.
Developers have included in the service a variety of tools for doing business. Here you can study all information about the bank, make a rating of several by this or that characteristic. The resource has an opportunity to hold an auction, in the process of which financial institutions offer their conditions and the size of the bid on the loan, and the user chooses which option is suitable for him.
This way of communication allows the entrepreneur to see what ways of solving his problem exist, and the bank – to prove that he is ready to fight for each client.
The creation of this service confirmed that the changes in lending gave impetus to the development of the market, despite the slight stagnation.
