Sampath Bank PLC has teamed up with KOKO to launch the KOKO Merchants Credit Facility, aimed at simplifying access to financing for eligible merchants within KOKO’s expanding network. This new initiative not only enhances KOKO’s offerings beyond payment solutions and customer financing but also facilitates merchants in obtaining financial resources from Sampath Bank. The funds can be utilized for purposes such as purchasing and restocking inventory, managing cash flow and working capital, addressing seasonal demand fluctuations, and investing in business growth.
The credit facility is tailored to feature an efficient assessment process that utilizes pertinent data from a merchant’s existing relationship and transaction history with KOKO, thereby minimizing the time and complexity typically associated with conventional financing methods.
This collaboration underscores a mutual dedication to bolstering Sri Lankan businesses by merging KOKO’s digital merchant platform with the financial service expertise of Sampath Bank. Together, the two organizations aim to create viable opportunities for merchants, enabling them to enhance their operations, explore new ventures, and dedicate more time to business development. It is important to note that access to credit facilities is contingent upon Sampath Bank’s eligibility requirements, credit evaluations, applicable terms and conditions, and final approval.
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Photo Caption: Darshin Pathinayake, Chief Business Intelligence Officer of Sampath Bank PLC (2nd from left), formalizes the agreement with Michael Sathasivam, Regional CEO of KOKO (2nd from right), as Asanka Liyanage, Deputy General Manager – Consumer & SME Banking at Sampath Bank PLC (1st from left), and Dinuki Karunatilake, Head of KOKO (1st from right), observe the exchange.
Source: Financial Chronicle Biz English | Sri Lanka Business News.
