DBS to mentor social enterpreneurs in Singapore under new programme

DBS said that the programme includes mentoring sessions by its senior SME bankers, banking and finance training courses, and better financing options for enterprises.
DBS said that the programme includes mentoring sessions by its senior SME bankers, banking and finance training courses, and better financing options for enterprises.PHOTO: REUTERS

SINGAPORE - DBS has started a programme to support 12 social enterprises through mentoring as well as providing financing options. 

The bank said on Wednesday (Oct 10) that the scheme will give enterprises "access to mentoring sessions by DBS senior SME bankers, banking and finance training courses at the DBS SME Academy, as well as better financing options".

Social enterprises will also receive a relationship managed account that is "traditionally reserved for larger corporate customers", the bank added.

Ms Joyce Tee, group head of SME banking at DBS, said: "Social enterprises have big ambitions to make a positive impact in their community, and very often they struggle with limited resources."

She added that the bank wanted "to support these social enterprises in their journey to create greater social impact".

Mr Ong Tian Cheng, co-founder of Yonah, one of the 12 social enterprises in the programme, said: "Running a social enterprise comes with many challenges, and it is so important to find business partners who understand your goals, passion and purpose."

"I'm looking forward to working with DBS as we pilot our service and work to transform healthcare in rural communities."

The programme is being administered by the DBS Foundation and the bank's SME banking team.

It was launched ahead of the DBS Foundation Social Enterprise Summit 2018, which starts on Tuesday and runs until Oct 18.