OCBC Supports Women-Led Startups with Up to S$100,000 Financing

OCBC Financial institution has unveiled a SME programme set to launch in April 2024, aimed particularly at supporting girls entrepreneurs in Singapore.

The OCBC Ladies Entrepreneurs Programme presents a focused strategy to financing, enabling female-owned SMEs to expedite their enterprise targets. Notably, startups led by girls are eligible for as much as S$100,000 in financing inside their preliminary two years, with mortgage processing charges waived.

This monetary help stems from the OCBC SME Sustainable Finance Framework, which now encompasses a piece devoted to social loans. These loans adhere to the Social Mortgage Ideas set by the Mortgage Market Affiliation, specializing in the financial empowerment of ladies and the fortification of women-led companies.

Members within the OCBC Ladies Entrepreneurs Programme will even profit from instructional workshops, networking alternatives, and mentorship from seasoned feminine entrepreneurs, addressing the persistent challenges girls face in enterprise.

OCBC knowledge highlights the rising impression of ladies within the enterprise sector, displaying a rise in women-founded SMEs from 23% in 2018 to 30% in 2023. These companies have made vital strides in sectors historically dominated by males and have seen a noticeable uplift in development when leveraging financing choices.

The programme builds upon OCBC Indonesia’s success with its Ladies Warriors Programme, which has assisted roughly 1,400 girls entrepreneurs since its inception in 2020, disbursing over S$300 million in loans.

The initiative can also be set to develop to Malaysia and Hong Kong at a later stage.

Linus Goh

Linus Goh, Head of World Business Banking at OCBC mentioned,

“By way of the OCBC Ladies Entrepreneurs Programme, we purpose to empower girls entrepreneurs to construct the precise connections and to realize the assets and help wanted to develop their corporations to their full potential.

 

Even in a developed market like Singapore, the place girls founders have a monitor report of constructing profitable companies and have grown at a sooner charge than their male counterparts over the previous 5 years, women-owned SMEs account for under about 30% of all companies right here.”