DBS launches programme to mentor 12 social enterprises in Singapore

A PROGRAMME by DBS to mentor, train and finance 12 social enterprises in Singapore, jointly administered by the DBS SME Banking team and the DBS Foundation, was launched on Wednesday.

DBS said in a statement that through the DBS Social Enterprise Support Programme, social enterprises "will have 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 in the programme will also receive a relationship managed account that is "traditionally reserved for larger corporate customers", DBS added.

Said Joyce Tee, DBS’ group head of SME banking: “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".

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 was launched ahead of the DBS Foundation Social Enterprise Summit 2018, which will be held between October 16-18 in Singapore.