Lisa Roberts, USA head of HPD LendScape, discuss how digitised supply chain finance (SCF) expands the lifeline of SMEs.
Digital SCF programs are opening new pathways for lenders looking to support small- to medium-sized enterprises (SMEs), which have been hit hardest by the COVID-19 pandemic. These resources will help provide liquidity now and should continue to be useful in the future.
Accounting for 44% of total US GDP, SMEs have long served as the driving force behind the country’s economy, serving as a breeding ground for entrepreneurship and an essential source of employment. Arguably, this group has been affected the most by the COVID-19 pandemic, which has rocked the US economy, with unemployment rising at a record rate and projections of a 5.2% contraction in GDP.
