ICTA, PwC launch Credit Evaluation Framework | Sunday Observer

ICTA, PwC launch Credit Evaluation Framework

12 June, 2021

The Information and Communication Technology Agency (ICTA), the apex body for Information and Communication Technology in Sri Lanka, in collaboration with PwC Sri Lanka, recently introduced a new Credit Evaluation Framework to be adopted by lenders when lending to tech companies with minimal collateral.

Expansion of a tech company is a daunting process due to challenges in obtaining debt facilities, as traditional credit evaluation methods require borrowers to provide tangible collateral to be eligible for a business loan. Technology companies are evaluated using existing generic credit evaluation frameworks, which have inherent shortcomings in evaluating the merits and demerits of a technology company.