Factoring and Invoice Discounting

Jay Singer is Senior Vice President, Global Small Business Segment at Mastercard. In this role, he leads the global development and commercialization of the Mastercard innovative commercial products and solutions that serve small businesses.

Washington, D.C. March 19, 2019 –  Q-Lana became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.  

“200 million businesses worldwide need financing to invest, grow and create new jobs. We are proud to have Q-Lana join our network of 150 members who work to expand access to finance for small and medium businesses,” said Matthew Gamser, CEO of the Forum. 

The Mastercard Foundation in partnership with BFA released Digital Commerce and Youth Employment in Africa, new research that shows 80 million young people will benefit from the rise of digital commerce in Africa by 2030. These findings indicate that the digital commerce sector has the potential of disrupting the future of work on the continent.

Washington, D.C. February 12, 2019 –  CashDirector became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.  

“200 million businesses worldwide need financing to invest, grow and create new jobs. We are proud to have CashDirector join our network of 150 members who work to expand access to finance for small and medium businesses,” said Matthew Gamser, CEO of the Forum. 

SME expert and Forbes contributor Elaine Polfeldt provides tips and tools to help SMEs beat the odds of financial downfall within the first and fifth year of business. Polfedt, says making a financial plan in advance to prevent unfavorable results is key. She mentions utilizing financial software tools such as, Quickbooks, PayPie and Xero (a SME Finance Forum member) to help with examining finances.
 
Take a look below for helpful tips:

Dev Raman, Managing Partner at Lastaki shares how to make the many moving parts to an SMEs financial area come together smoothly. Financial stability is key for SMEs, five tips on how to address financial indiscipline are below:

Mastercard is partnering with fintech startup, Strands Finance to offer issuing banks digital cash management tools aimed at SME customers. Strands will tap into Mastercard’s BFM (business financial management) offering, which helps small firms manage accounts payables, receivables, budges and provisions. “SMEs are the backbone of the global economy and represent one of the biggest potential sources of revenue for banks; yet they are typically offered banking solutions designed with the retail customer in mind,” shared Mike Brieva, CEO of Strands.

Nearly a third (28%) of small business owners don’t feel financially confident unless they have a buffer big enough to cover running costs for a year, according to new research from credit card machine provider Paymentsense. The study found that despite this, more than four in 10 small business owners (41%) admit to having no such buffer in place, meaning as many as 2.3m UK small businesses may have no financial backup plan.

Bank loans accounted for 14 percent, while asset-based lending/factoring/invoice finance accounted for 16 percent of financial buffer.