Grab is"committed to supporting the growth of micro-entrepreneurs and small businesses". It did not respond to questions on the initiative's launch date, its loan assessment criteria and the loan volume so far.
Grab had announced in March last year a partnership with one of Japan's largest consumer financing companies, Credit Saison, to provide loans to consumers, micro-entrepreneurs and small businesses across South-east Asia. The focus, it said, was on providing working capital loans, financing for smartphones and consumer goods financing to"meet the needs" of Grab drivers, agents and merchants.
Grab said then it will use data sets such as transport movement, geo-location and transaction data as reliable alternatives to traditional credit ratings.Get The New Paper on your phone with the free TNP app. Download from the