FSVC began working in Tunisia in 2018 to develop and deliver innovative financial products through non-traditional lenders and investors and build the capacity of business support organizations (BSOs) to provide improved services to help small and medium-sized enterprises (SMEs)’ access finance.
- Encouraging private equity/venture capital investors to adopt Revenue Capital, a fundamentally new investment structure in Tunisia that can bring about systemic changes to Tunisia’s financial landscape for SME financing;
- Assisting policymakers and financial sector regulators in establishing regulations that are conducive to SME financing via crowdfunding;
- Building the capacity of leasing and factoring companies (LFCs) to develop a digital platform to process SMEs’ credit applications, introduce financial products for SMEs and reach out to new SME markets, including women- and youth-owned SMEs; and
- Building the capacity of business support organizations to provide improved services and yield investor-ready SMEs.
- The operationalization of the Fonds d’Assistance à la Restructuration des PMEs (FAR – SME Restructuring Support Fund) as a result of a series of strategic and operational activities provided to the Government of Tunisia (GoT). To date, the FAR has successfully processed 376 applications (of which 224 were approved), disbursed approximately US$11 Million and helped safeguard 8,606 jobs.
- The design of a Manual of Procedures to help business centers (BCs) provide effective services (e.g., business networking, pre-creation assistance and post-creation assistance) to SMEs and entrepreneurs. A significant outcome has been the “contractualisation” of the Manual between the government and BCs, so that the BCs now receive financial support from the government when they provide the services listed in the Manual.
- The launch of a pilot “Portfolio Management” (PM) service at 10 BCs across Tunisia. These BCs now offer to local banks to monitor the loans that the banks have made to local SMEs.