Suki Plus Technologies Inc. Sukiplus

There are two main actors in Traditional Lending to Micro & Small Businesses, and both of them face major challenges. For banks, the lack of client identification documents, high administrative costs & low volumes per account perpetuate the belief that the market is not worth exploring. For micro/small business entrepreneurs, the bank’s complicated requirements & subsequent unavailability of mainstream credit make them vulnerable to loan sharks charging usurious rates. SukiPlus is a platform that connects unbanked micro-entrepreneurs to mainstream financial institutions, using alternative data & retail solutions to help them get access to working capital loans at more reasonable rates. By collecting alternative data related to a micro-entrepreneur’s business & consolidating them into networks, we show banks that these entrepreneurs are of good standing, that volumes are big enough, and that building a business relationship with them is sustainable. By working with already existing partners in the unbanked entrepreneur’s community & by having complementary offline operational support, we promote trust in the system and encourage the shift to availing mainstream & reasonable credit. As an independent platform, SukiPlus' aim is to be the promoter of TRUST for both Financial Institutions and the Unbanked Entrepreneurs. We ensure that Interest and Non-Performing Loan Rates are managed, and that the business will be sustainable.