It is estimated more than 95 per cent of businesses across the world are small and medium-sized enterprises (SMEs), accounting for approximately 60-95 per cent of private sector employment and, on average, 52-95 per cent of a country’s private sector contribution to GDP.

Despite their importance to the growth of economies, SMEs face a number of hurdles when seeking finance. Banks, the traditional provider of loans, are increasingly focused on financing larger companies, meaning there is a lack of affordable funding options for the SME market.