However, given the informal nature of their business, limited access to credit remains one of the most pressing issues. Financial institutions often hesitate to extend credit to PPMVs due to perceived risks, lack of collateral, and limited credit histories, hindering their ability to expand their businesses and invest in essential resources. “Empowering PPMVs with access to credit financing is essential for their growth and ability to provide improved healthcare services to the communities they serve. According to industry leaders, it is crucial for financial institutions to integrate technology in providing credit to PPMVs. This, in turn, will empower PPMVs to expand their businesses and improve healthcare services nationwide.
Source: The Guardian August 02, 2023 18:23 UTC