Sumitomo Mitsui expands financing for those companies in its founding period: 100 billion yen this year

2004/4/6

Nikkei Shimbun Morning edition

Sumitomo Mitsui Banking Corporation will begin full-scale unsecured financing for venture companies that have just started. Partner with a company specializing in technology evaluation to find companies that have been avoided dealings, such as immediately after the establishment or in the red. This fiscal year alone, the company plans to increase lending by 50% to about 1200 companies and 100 billion yen. Reflecting the economic recovery, the attitude of banks, which had been shrinking, has begun to change. Sumitomo Mitsui has partnered with Fledge Technology, a business consulting company established by Toshiba natives (Tokyo / Chuo, Representative, Hidetaka Yamamoto) to develop a new method of corporate technology evaluation. Analyzes the technical skills and management model of the company over 106 items and comprehensively evaluates the growth potential from the start of business to the expansion period. Loans if the potential for business expansion outweighs the risks. The target is to cultivate about 500 new companies and loan 30 billion yen this year alone, mainly to growth companies in the infancy period.