The ICT Agency of Sri Lanka (ICTA), the apex body for Information and Communication Technology in Sri Lanka, in collaboration with PwC Sri Lanka, jointly developed and introduced a new Credit Evaluation Framework to be adopted by lenders when lending to tech companies with minimal collateral.
The new framework minimizes the challenges face by technology companies when obtaining debt facilities, as traditional credit evaluation methods require borrowers to provide tangible collateral to be eligible for a business loan. Furthermore, technology companies are evaluated using existing generic credit evaluation frameworks, which have inherent shortcomings in evaluating the merits and demerits of a technology company. This new framework has been built around four pillars, namely; Founder, Market, Product, and Financials and has thus provided technology companies to be evaluated on quantitative and qualitative factors that are most relevant to them.
The company should have;
The steps to follow;
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