Building Markets (BM) - Loan And Investment Facilitation Specialist
Drawing on Building Markets’ extensive data, deep on the ground experience, and research, the Loan and Investment Facilitation Specialist in Turkey will ensure that the SMEs in Building Markets’ network in the country can obtain new capital to grow their businesses. To do this, the Specialist will identify high-potential SMEs, lead efforts to improve their investment and credit readiness, and develop strong networks and relationships with financial institutions (e.g. banks and other lenders and investors). The Specialist will be experienced in both working with SMEs and within the financial sector, preferably in Turkey and/or the region.
COVID-19 is having a significant and detrimental impact on economies around the world. For markets to recover, SMEs will be at the core of any successful strategy as they not only make up more than 90% of firms in any market, they are responsible for driving up to 80%+ of job creation. Both internal and external factors have prevented SMEs in frontier markets from attracting investment and capital. Local businesses face internal constraints including human resource development, market access, financial literacy, and management capacity. At the same time, commercial banks and investors, who are natural partners for SMEs, are contending with their own set of challenges. This includes a lack of information, financial products, resources to monitor SMEs, and strict regulatory requirements. The required support systems and targeted technical assistance that would help bridge this gap is also largely absent from frontier markets.
Building Markets’ SME network in Turkey, which largely consists of Syrian-led businesses, have unique challenges that hinder their growth, employment potential, and sustainability in Turkey. This includes limited visibility, relevant training, and access to information, capital and partnerships. Furthermore, a lack of access to finance prevents the expansion of Syrian SMEs. An assessment released by Building Markets in January 2020 found that 80% of Syrian businesses report a lack of access to finance. () While bank officers and investors may wish to include Syrian-owned enterprises, they struggle with identifying attractive, capable companies. With the outbreak of the coronavirus (COVID-19) pandemic, the barriers these businesses face are now exponentially larger. This must be addressed with urgency to avoid the loss of significant gains and to prevent vulnerable refugee populations from slipping further into poverty.
A key aspect of Building Markets’ A2F strategy will be piloting a fee-for-service approach where financiers, and perhaps SMEs, pay for services rendered (e.g. referral or retainer fees, advisory, etc).
Responsibilities and Duties:
- Support development of Building Markets’ SME access to finance, more specifically loan and investment facilitation, strategy in Turkey. This includes setting clear targets for capital facilitated;
- Implement and lead this strategy with Building Markets’ SME network;
- Identify and develop strong relationships with banks, lenders, and investors through regular meetings and visits ensuring a clear understanding of their requirements for loan and investee candidates;
- Identify SMEs that are credit or investment-ready (based on criteria) and matching them with available resources (advisory or capital);
- Oversee needs assessments of SMEs interested in accessing loans or investment;
- Generate SME investment and credit ready profiles that can be shared with financiers;
- Work with Building Markets’ training team and service providers to improve training modules that will increase SME’s access to capital (e.g. financial management, business planning etc.);
- Where needed provide direct one-on-one advisory to those SMEs that are nearly credit or investment-ready;
- Negotiate loan guarantee agreements with local banks;
- Contribute to the development of collateral and reporting related to access to finance activities and challenges;
- Manage relevant trackers and coordinate with Building Markets’ M&E team as required to monitor and track outcomes in Turkey;
- All activities must be implemented in line with project strategy and local laws, international standards, and donor requirements.
Reports to: Country Director/ Global Head of Programs
Duration: "Renewable" after 6 months of consultancy.
- Must have experience working in the financial sector;
- Must possess experience working with SMEs and a demonstrated understanding of their needs and challenges, particularly related to financing;
- Experience training SMEs on financial management and business planning a plus;
- Banking, financial services, and/or investment experience and networks in Turkey and the Middle East region preferred;
- Must be able to represent Building Markets and its SME clients with financial institutions and other stakeholders;
- Must have at least 10 years of experience in related professional roles and relevant networks;
- Bachelor’s degree is required; Master’s degree is preferred.
- Turkish language skills preferred; Arabic language skills a plus