Banking Daily News: 22th AUG 2023

DBS, Infor Nexus Boost SME Pre-Shipment Finance

DBS Bank has teamed up with Infor Nexus to introduce a pre-shipment finance solution tailored for SME suppliers within the Infor Nexus supply chain. Leveraging data from the Infor Nexus platform, this solution provides data-driven lending to help suppliers meet order needs prior to shipment. The initiative bridges cashflow gaps that occur between shipment, delivery, and payment. It primarily targets SMEs in sectors such as apparel and footwear, addressing their longstanding need for Purchase Order financing.

Key Facts:

• DBS collaborates with Infor Nexus on financing.
• Data-driven lending tailored for SME suppliers.
• Mitigates cashflow challenges during shipment processes.
• Primarily focuses on apparel, footwear, and textile sectors.
• Addresses SMEs' pressing need for Purchase Order finance.

IIFL Secures $100M IFC Funding for Green Homes

IIFL Home Finance Limited (IIFL HFL) has received $100 million in debt funding from IFC, part of the World Bank Group. This investment will promote affordable housing for women and finance green homes in India. The fund will be split evenly: 50% for women borrowers and 50% for green housing. It's a move to make housing finance more accessible to the economically weaker sections in India, and it supports IIFL HFL's green building strategy and the government's 'Housing for All' vision.

Key Points:

• IIFL HFL gets $100M from IFC.
• 50% of funds dedicated to women's housing finance.
• Remaining 50% earmarked for green housing.
• Focus on aiding economically weaker sections.
• Aligns with 'Housing for All' vision.