Funding squeeze hastens take-off of non-bank lending in Middle East:
"Middle East investment companies are ramping up their lending to businesses, providing a lifeline for small and medium-sized firms struggling to secure finance from banks that tightened credit after a suffering rise in bad loans. Industry participants estimate non-bank lenders in the region could provide around $1 billion over the next three to five years, including secured loans, mezzanine debt, preferred shares and convertible loans and bonds. That's a small slice of the global industry; private debt funds, the other name for non-bank lenders, distributed $58 billion in capital worldwide in the first half of 2016, according to financial data firm Preqin."
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