Small businesses are an untapped 'gold mine'.

In traditional lending practices, many experts believe that numerous small and medium-sized enterprises (SMEs) still face difficulties due to incomplete documentation; many accounting records and financial reports lack transparency, hindering the approval process. Furthermore, loan procedures are time-consuming, potentially lasting from several weeks to months, leading to increased costs and missed business opportunities.

Ms. Nguyen Thi Ngoan, Chief Financial Officer of MISA Group.

To help resolve this difficulty, a reporter from the News and Nation newspaper had a discussion with Ms. Nguyen Thi Ngoan, Finance Director of MISA Group, regarding this issue.

Madam, MISA once conducted a small survey on the loan eligibility of small and micro-enterprises. According to the survey, out of every 100 businesses seeking loans, 97 were rejected, primarily due to a lack of collateral and incomplete documentation. So, what are the solutions to address the current bottlenecks in the capital needs of SMEs?

Online, unsecured, and paperless lending policies are becoming a trend and a key to unlocking the capital needs of SMEs. This solution allows for the complete digitization of the process, eliminating the need for paper documents and enabling 100% online transactions. Disbursement is also rapid, within 24 hours instead of weeks as with traditional lending methods; and no collateral is required, as it is replaced by digital data-based assessments.

SMEs represent a large but under-tapped market. While this group contributes approximately 40% of jobs to the economy , they account for only about 18% of total outstanding credit and as many as 75% have never borrowed from banks. This represents a crucial driving force for economic growth and unlocks a potentially untapped market.

According to Misa representatives, if Vietnam can solve the problem of accessing capital quickly and reliably, based on digital data, this will be a new growth driver, contributing to realizing Vietnam's goal of becoming a high-income country by 2045.

Based on this reality, MISA has defined its mission as building MISA Lending (an online lending model based on digitized data) as a platform directly connecting small and micro-enterprises with banks, based on digital data from MISA software. With nearly 400,000 business customers using the cloud solution, this system provides a source of "live data" verified and shared by businesses, helping banks assess risks in real time, thereby limiting bad debt and facilitating quick and transparent disbursement.

With MISA Lending, you'll have access to accounting, tax, invoice, and cash flow data, enabling banks to conduct quick and transparent assessments. Our model allows for a 5-1-0-5 minute application process, 1-day approval, and zero collateral, along with the partnership of 12 banks and credit institutions. Practical experience shows that from 2022 to the present, MISA Lending has helped tens of thousands of businesses access capital, achieving a loan success rate of 30%, ten times higher than traditional channels. To date, over 30,000 billion VND has been disbursed through the MISA platform.

However, unlike traditional lending, online lending relies on a lot of data, doesn't it, madam?

It is true that credit scoring should be based on static data (credit history, CIC; tax reports; financial obligations) and dynamic data (daily cash flow; electronic invoices; accounting and human resources data). Combining static and dynamic data helps banks to score credit more transparently, make more accurate assessments, and minimize the risk of bad debt.

MISA Lending's loan connection platform is living proof of the practical effectiveness of online unsecured lending, specifically: In 2025 alone, up to September, the platform had supported the disbursement of nearly 14,000 billion VND, 2.5 times higher than the same period, with a loan success rate of 30%, 10 times higher than the traditional process.

The core of data analysis isn't just technology or finance, but human values. Previously, millions of households and small businesses were left out of the game simply because they lacked collateral. This meant they lost opportunities for growth, expansion, and improved living standards.

When data is digitized and properly utilized, from static data such as credit history and tax reports to dynamic data such as cash flow, invoices, accounting records, and banking information, credit scoring can be more transparent and accurate, reducing the risk of bad debt. More importantly, capital is delivered to the right people at the right time. Each successful loan is not just a number, but a new opportunity: a small business investing in new machinery, a household business expanding its store, or a family stabilizing their livelihood.

To further boost this, we propose that the State Bank of Vietnam allow MISA to participate in the Sandbox to test a data-driven P2P (peer-to-peer) lending model; and simultaneously grant direct access to the National Credit Information Center (CIC) and reform the credit guarantee mechanism based on digital data. Commercial banks should strengthen cooperation with digital platforms like MISA Lending to both reduce appraisal costs and expand their market reach.

MISA is also collaborating with the Vietnam National Payment Corporation (NAPAS) to develop a co-branded card. When customers use this card to make purchases, the invoice will be automatically transferred to the MISA system, and the software will automatically process the transaction; at the due date, the system will automatically debit and pay through the bank. Therefore, the entire process, from customer needs to payment and accounting, is completely automated, requiring no manual transactions.

This solution offers several benefits. Firstly, it saves up to 99% of personnel costs for both businesses and banks; secondly, it minimizes the risk of errors or mistakes in accounting and payment processes.

Thank you very much, Madam!

Source: https://baotintuc.vn/kinh-te/doanh-nghiep-nho-la-mo-vang-chua-duoc-khai-pha-20251006114655057.htm