Wish Finance ICO Aims to Decentralize Small Business Lending
A new blockchain platform is aiming to provide small entrepreneurs with access to fair and fast funding that avoids the pain points of the established lending industry.
Small and medium enterprises make a noticeable impact on the modern economy, hiring more employees, paying more taxes, and ultimately slingshotting the economy. SMEs often report that access to capital makes a significant difference in the success of the company, as getting unsecured business loans remains an obstacle. Wish Finance took note of this problem and created a solution.
A Unique Global Lending Platform
Wish Finance is a smart blockchain lender serving SMEs and fighting to dissolve major barriers in a vast global market. They offer merchant cash advances and business loans with fair interest rates – based on the company’s cash flow, not their assets. They have access to POS terminals to view transactions in real time, and data for scoring, risk control, and automatic loan repayment.
The Wish Finance solution is designed to help small entrepreneurs avoid the massive interest rates associated with traditional lenders, which in some cases can reach as high as 60%. By leveraging big data, artificial intelligence, and blockchain platform architecture, Wish Finance can deliver low-cost lean loan processing and high levels of transparency.
Eugene Green, the CEO of the platform, has commented on the upcoming Wish Finance ICO:
“We’ve conducted a very thorough and broad research of South-East Asia for the launch. We’ve also invested our own money to establish the company and its core technology, and successfully issued our pilot loans and got them repaid. We’re ready for the ICO, and we will use those funds to scale up. We’re also negotiating partnerships with insurers and acquirers in different countries of Asia Pacific and Europe to expand into new markets.”
The blockchain-based architecture on which Wish Finance will operate facilitates genuine global lending that allows lenders to issue loans in as little as 24 hours, backed up by real financial transactions data to score SME borrowers. This system provides a highly accurate risk assessment, as well as allowing lenders to offer a fair interest rate.
The Wish Finance Token
The Wish Finance platform will operate via the Wish Token, which is executed on the Ethereum network. Each Wish Token will be priced at $1 and is available during the Wish Finance token pre-sale which began on October 27, 2017.
The Wish Finance token crowdsale will begin on November 6, 2017. During the first week of the token distribution period, Wish tokens will be priced at $1. Token price will increase to $1.05 in the second week of the period, and $1.10 thereafter. At the conclusion of the distribution period, Wish Tokens will be priced at $2.