Suki Plus Technologies Inc. (SukiPlus)

www.sukiplus.com

There are two main actors in Traditional Lending to Micro & Small Businesses, and both of them face major challenges. For banks, the lack of client identification documents, high administrative costs & low volumes per account perpetuate the belief that the market is not worth exploring. For micro/small business entrepreneurs, the bank’s complicated requirements & subsequent unavailability of mainstream credit make them vulnerable to loan sharks charging usurious rates. SukiPlus is a platform that connects unbanked micro-entrepreneurs to mainstream financial institutions, using alternative data & retail solutions to help them get access to working capital loans at more reasonable rates. By collecting alternative data related to a micro-entrepreneur’s business & consolidating them into networks, we show banks that these entrepreneurs are of good standing, that volumes are big enough, and that building a business relationship with them is sustainable. By working with already existing partners in the unbanked entrepreneur’s community & by having complementary offline operational support, we promote trust in the system and encourage the shift to availing mainstream & reasonable credit. As an independent platform, SukiPlus' aim is to be the promoter of TRUST for both Financial Institutions and the Unbanked Entrepreneurs. We ensure that Interest and Non-Performing Loan Rates are managed, and that the business will be sustainable.

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There are two main actors in Traditional Lending to Micro & Small Businesses, and both of them face major challenges. For banks, the lack of client identification documents, high administrative costs & low volumes per account perpetuate the belief that the market is not worth exploring. For micro/small business entrepreneurs, the bank’s complicated requirements & subsequent unavailability of mainstream credit make them vulnerable to loan sharks charging usurious rates. SukiPlus is a platform that connects unbanked micro-entrepreneurs to mainstream financial institutions, using alternative data & retail solutions to help them get access to working capital loans at more reasonable rates. By collecting alternative data related to a micro-entrepreneur’s business & consolidating them into networks, we show banks that these entrepreneurs are of good standing, that volumes are big enough, and that building a business relationship with them is sustainable. By working with already existing partners in the unbanked entrepreneur’s community & by having complementary offline operational support, we promote trust in the system and encourage the shift to availing mainstream & reasonable credit. As an independent platform, SukiPlus' aim is to be the promoter of TRUST for both Financial Institutions and the Unbanked Entrepreneurs. We ensure that Interest and Non-Performing Loan Rates are managed, and that the business will be sustainable.

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Country

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City (Headquarters)

Quezon City

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Industry

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Employees

1-10

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Founded

2019

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Social

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Potential Decision Makers

  • Co - Founder

    Email ****** @****.com
    Phone (***) ****-****

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