UK FINTECH AND WORLD’S LARGEST SME ASSOCIATION LAUNCH PROGRAMME TO SECURE AFFORDABLE FINANCE FOR 70 MILLION INDIAN SMEs ‘Changemakers Programme’ will help plug a more than $320 USD billion gap in affordable credit that is not disbursed to credit worthy SMEs" The Confederation of All India Traders (CAIT), the world’s largest SME association and CreditEnable, a UK fintech specialising in credit solutions for the SME sector will sign an exclusive partnership agreement in Mumbai on 7 May kickstarting a national campaign for access to affordable finance. CAIT /The CreditEnable partnership is designed to move the $320 bn that CAIT’s members currently take out from the informal sector at interest rates of 30-40%, into the formal lending sector, resulting in an overall annual savings on interest costs alone of close to $50B USD for existing borrowers as well as provide substantial opportunities for new borrowers to access affordable finance in a timely manner. ...