{"id":589081,"date":"2023-06-21T00:00:00","date_gmt":"2023-06-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/21\/gb-corp-launches-sme-lender\/"},"modified":"2023-06-21T00:00:00","modified_gmt":"2023-06-21T00:00:00","slug":"gb-corp-launches-sme-lender","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/21\/gb-corp-launches-sme-lender\/","title":{"rendered":"GB Corp launches SME lender"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">GB Corp is bidding to capture a slice of Egypt\u2019s <\/span><span style=\"font-weight:700\">growing SME lending market with<\/span><span style=\"font-weight:700\"> the launch of a new <\/span><span style=\"font-weight:700\">subsidiary<\/span><span>, Kredit, it announced in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/6\/1033.pdf\" style=\"\">a statement (pdf)<\/a><\/span><span>yesterday<\/span><span style=\"font-weight:400;\">. The lender has acquired a license from the Financial Regulatory Authority (FRA) and is now providing financial services to SMEs, which remain an underserved segment in the local market. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">About the company:<\/span><span> Kredit provides lending and mentoring services to local SMEs. It offers a <\/span><span>range of specialized products and services including short, medium, and long-term financing. The firm will offer tailored financing schemes to priority areas including the manufacturing sector, women-led businesses, and green projects.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SMEs power the economy but continue to face problems accessing finance:<\/span><span> SMEs account for more than 75% of Egyptian businesses and create the bulk of the jobs in the economy, but continue to face challenges accessing finance. <\/span><span>\u201cMany SMEs face challenges in obtaining credit from traditional sources due to their size, lack of collateral, or limited credit history. This creates a  [chance] for alternative lenders to fill the financing gap and cater to the underserved SME segmen<\/span><span style=\"font-weight:400;\">t,\u201d GB Capital CEO Tamer El Emary told Enterprise.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">This is the latest addition to a growing line-up of non-bank financial services offered by GB Capital:<\/span><span>\u201cKredit represents the natural progression of our already established and fast-growing NBFI portfolio of offerings in leasing, consumer finance, micro financing, factoring, securitization, fleet-leasing, mortgage finance and life ins. to cater to a wider segment of clients,\u201d El Emary said. \u201cGB Capital intends to identify new opportunities to further expand its presence in the financing space.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Not just a car company:<\/span><span> The company (FKA GB Auto) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99bfadb4-b952-4469-bd82-e789fa22f943\" style=\"\">recently rebranded<\/a><\/span><span> itself as GB Corp, reflecting its growing footprint in other sectors such as finance (GB Capital) and logistics (GB Logistics).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GB Corp is bidding to capture a slice of Egypt\u2019s growing SME lending market with the launch of a new subsidiary, Kredit, it announced in a statement (pdf)yesterday. The lender has acquired a license from the Financial Regulatory Authority (FRA) and is now providing financial services to SMEs, which remain an underserved segment in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":589082,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8022],"tags":[72,503,2471,6543,10704,595,287],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-589081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nbfs","tag-enterpriseam","tag-financial-services","tag-gb-capital","tag-gb-corp","tag-kredit","tag-non-banking-financial-services","tag-smes","wpautop","entry"],"acf":{"mongo_id":"ec664411-0096-4f9d-81e7-332852c0d6b4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/1060.jpg","photo_position":"above","homepage_title":"","full_issue_title":"GB Corp launches SME lender Kredit","related_issue":[589072],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.d81d86e7-dfbc-42f9-a53f-682f9a0fd102.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>GB Corp launches SME lender - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/21\/gb-corp-launches-sme-lender\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GB Corp launches SME lender\" \/>\n<meta property=\"og:description\" content=\"GB Corp is bidding to capture a slice of Egypt\u2019s growing SME lending market with the launch of a new subsidiary, Kredit, it announced in a statement (pdf)yesterday. 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The loan has passed a final review and is now pending approval from the European lender, which is expected to make\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/88.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579049,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/23\/goodbye-gb-auto-group-hello-gb-corp\/","url_meta":{"origin":589081,"position":2},"title":"Goodbye GB Auto Group, hello GB Corp","author":"enterpriseam admin","date":"23 January 2023","format":false,"excerpt":"AUTOMOTIVE- GB Auto is now GB Corp: GB Auto Group has rebranded itself as GB Corp, the company said in a statement yesterday. \u201cGB Corp aims to create one unified entity, where GB Corp\u2019s subsidiaries \u2014 GB Auto, GB Capital, GB Logistics, GB Ventures, GB Academy and the Ghabbour Foundation\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/392.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575952,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/04\/new-regulatory-framework-for-sme-lenders-announced\/","url_meta":{"origin":589081,"position":3},"title":"New regulatory framework for SME lenders announced","author":"enterpriseam admin","date":"4 November 2020","format":false,"excerpt":"REGULATION WATCH- SME lenders will need to be set up as joint-stock companies with a minimum capital of EGP 30 mn under a regulatory framework set out by the Financial Regulatory Authority (FRA) yesterday (pdf). Any company seeking an SME lending license must be at least 50% owned by juridical\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574192,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/01\/bdc-sme-lending-up-23-in-1h2020\/","url_meta":{"origin":589081,"position":4},"title":"BdC SME lending up 23% in 1H2020","author":"enterpriseam admin","date":"1 September 2020","format":false,"excerpt":"Banque du Caire increased its lending to SMEs by 23% to EGP 11 bn during 1H2020, Chairman Tarek Fayed said in a statement on Monday, Hapi Journal reports. The state-owned bank has been working with the European Investment Bank to channel finance to SMEs after the multilateral lender signed off\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":564691,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/bank-lending-to-smes-isnt-just-the-right-thing-for-the-economy-its-the-right-thing-for-shareholders-too\/","url_meta":{"origin":589081,"position":5},"title":"Bank lending to SMEs isn\u2019t just the right thing for the economy \u2014 it\u2019s the right thing for shareholders, too","author":"enterpriseam admin","date":"21 February 2021","format":false,"excerpt":"Banks need to get their acts together when it comes to SME lending \u2014 not because it\u2019s the right thing to do for the economy (it is), but because it\u2019s the right thing to do for their shareholders.An AUC study we noted this morning said the solution lies (to varying\u2026","rel":"","context":"In &quot;PARTING SHOT&quot;","block_context":{"text":"PARTING SHOT","link":"https:\/\/enterpriseam.com\/egypt\/category\/parting-shot\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/589081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=589081"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/589081\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/589072"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/589082"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=589081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=589081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=589081"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=589081"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=589081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}