“With Yoma Bank’s support we will be able to fuel our growth, business growth and drivers’ income, as we seek to realize our vision to provide quality trucking logistics solutions that are priced fairly for both the consumer and driver,” said Alex Wicks, founder and CEO of Kargo.
The loan is aimed at resolving the common problem among small and medium-sized enterprises (SMEs) of cash flow management especially for those which provide services to multinational firms and will be based on Kargo’s accounts receivable. It also aligns with Yoma Bank’s strategy to support the growth of Myanmar’s SMEs.
The agreement is also a first that a local bank has offered to SMEs since the Central Bank of Myanmar approved the disbursement of unsecured lending.
Ref:
https://www.mmtimes.com/news/kargo-receives-unsecured-sme-loan-yoma-bank.html