OCBC Bank has announced a loan target of S$5 billion by 2028 for its serial entrepreneur segment across Singapore, Malaysia, Hong Kong, and Indonesia. The bank launched this business proposition in Malaysia after a nine-month pilot and plans to extend it to Hong Kong by the end of 2025 and subsequently to Indonesia.
The bank's approach involves assessing an entrepreneur's experience, business track record, and overall strategy across their group of companies. A dedicated support network is formed to assist entrepreneurs with their business goals. This method contrasts with the industry norm of evaluating each business separately, which can make it challenging for startups to secure financing.
Adam Piperdy, founder of Unearthed Group, has benefited from OCBC's proposition. His portfolio has shown consistent revenue growth and increased event management since receiving support from the bank. Piperdy expressed that OCBC provided him with clarity and structure for his growth strategy.
Lionel Lee, director of Westpoint Transit Pte Ltd, also received support from OCBC. He manages five companies in the logistics and transport sector and highlighted the importance of OCBC's assistance in navigating industry challenges.
OCBC offers a suite of solutions tailored for industries such as healthcare, education, and F&B where there is a higher penetration of serial entrepreneurs. These include working capital loans, venture loans, cross-border expansion solutions, sustainable finance, and corporate finance advisory.
Anna Chang from OCBC stated: “OCBC has re-imagined banking for serial entrepreneurs – centering it on enabling founders to build, scale, and exit businesses with confidence and agility."