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Home Sponsored News

How do We Empower a Growing Number of Small Enterprises?

Guest User by Guest User
May 15, 2019
in Sponsored News
4 min read
How do We Empower a Growing Number of Small Enterprises? 5
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The nature of the 21st century can be described as robotic, automated and convenient. Thanks to the massive leaps in technology that humanity has achieved over just one century are remarkable. This type of advancement has birthed companies and enterprises we all know and love today. Google, Apple, Samsung, and various other tech or software companies are all offsprings of our technological prowess. Seeing the success of these former “dwarf” companies empowers other entrepreneurs to develop their businesses.

However, entering the tech market or any market for that matter requires some investment, be it funds or time. It is where most enterprises reach their first obstruction, and in some cases, fail to overcome it. It all comes down to fund-raising and preparing the company financially. Unfortunately, there are very few people in our world that have the financial capability to fuel their business without external support. Thus, the importance of banks and small credit companies comes into play.

A solution long overdue

The primary issue with the lending industry is its growth. Lending companies and banks have grown to a point where small loans are not profitable anymore. Or, just not as valuable as large loans.

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To be exact, if a company with relatively worse credit score applies for a large loan, let’s say $1 million, they’re more likely to be approved than a smaller, more trustworthy company that applied for a $100,000 on the same terms.

This is precisely what AssetStream – blockchain-based microfinancing platform aims to solve. The streamlining, simplification and amplified accessibility to small loans for SMEs.

In the wake of ever-growing interest rates from intermediaries such as P2P lending platforms, banks, and micro-credit companies, AssetStream can alleviate the pressure on borrowers with its inclusion of a Blockchain platform.

How AssetStream works

AssetStream can be described as a type of P2P lending platform, for people unfamiliar with the Blockchain. The process itself is quite easy. Let’s list them below to simplify it even further.

  1. A Lender applies on the platform and is approved.
  2. The Lender then invests a sum of his or her choosing.
  3. The Lender gets to choose whether to automate the lending process or manage it manually (Choosing a potential borrower).
  4. The Local Agency Service, acting as an intermediary between the lender and the borrower, will receive AST Tokens equivalent to the initially invested funds by the Lender. These tokens will act as collateral.
  5. The Lender then receives monthly interest rates alongside their initial investment in the last month of the contract.
How small loan availability supports new enterprises

The available AssetStream advantages displayed in the list above is just the tip of the iceberg and a fraction of the solution required to empower SMEs.

However, the advantages AssetStream brings to SMEs is probably it’s largest strength and a foundation of future improvements to stimulate growth. These strengths include:

  • Small Loan Availability – SMEs should have the option to apply for small loans without interest rates such as 30%-35%;
  • Automation – The borrowers need to be given a convenient platform, where the lender themselves seeks them out, not the other way around.
  • Transaction costs & speed – Thanks to the nature of the Blockchain, transactions will take a lot less time to process, which consequently leads to smaller fees and less intermediary intervention.
  • Transparency – Smart Contracts must be displayed for all of the parties involved to see, which will lead to fewer legal misunderstandings and a more streamlined experience.
What’s your plan to grow your enterprise?

With so many options at your disposal it quickly becomes overwhelming to make a definitive choice. Especially when there are so many lenders showcasing the features of their loans, such as interest rates and deadlines. The grind of filtering through lending offers can be very tiring. Fortunately, however, AssetStream’s Blockchain platform aims to solve exactly that. Instead of the borrower searching for the lender, AssetStream aims to automate the process, or reverse it completely. It is one of the best options to save time while searching for a lender.

Disclaimer: This is a guest article. The views, opinions and positions expressed within it are those of the author alone and do not represent those of Cryptopolitan. The accuracy, completeness and validity of any statements made within this article are not guaranteed. We accept no liability for any errors, omissions or representations. The copyright of this content belongs to the author and any liability with regards to infringement of intellectual property rights remains with them.

Guest User

Guest User

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