Vietnamese Fintech Firms Expand Loans for Household Businesses
1 report, 1 independent
Updated Wed 00:00
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What happened
Digital banks and fintech firms in Việt Nam are partnering with sales management platforms to expand lending services for household businesses. The Ministry of Finance provided figures noting that the nation has 5.2 million household businesses, which contribute 30 percent of gross domestic product.
From vietnamnews.vn
Why it matters
This initiative aims to close financing gaps for small businesses, such as grocery stores and restaurants, which often struggle to access finance due to lacking collateral or formal financial records.
From vietnamnews.vn
Who's involved
- Ministry of FinanceProvided economic figures regarding the household business sector.
- VietnamThe country where digital banks and fintech firms are expanding lending services.
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The entities involved
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Ministry of Finance
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