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May 19, 2023 16:56 EEST
May 19 (SeeNews) - International development agency USAID and Albanian business solutions provider CBS launched a platform, Lores Plus, which provides free-of-charge connection for small and medium enterprises (SMEs) to Albanian financial institutions and banks, aiming to ease access to financing, the agency said on Friday.
Lores Plus also provides financial and professional guidance to promote small business competitiveness, USAID said on social media.
The platform uses algorithms to match SMEs with suitable financing options for up to 500,000 euro ($540,165) loans from seven banks and two financial institutions in Albania: Banka Kombetare Tregtare, Union Bank, OTP Bank, Credins Bank, Intesa Sanpaolo Bank, Fibank, Crimson Finance Fund, and NOA, data from the platform's website show.
The platform is planned to expand to other countries in the Western Balkans, according to the website.
CBS is a business consulting and project development firm based in Albania with cross-country operations in Western Balkan countries.
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