Just a few years ago, getting a bank loan to finance early-stage ventures was a rare occurrence in Japan. That¡¯s now changing, according to Tokyo-based software startup Techtouch.
¡°We even get approached by different branches of the same bank,¡± said Masaya Nakade, the firm¡¯s chief financial officer. The company is in talks with three megabanks about loans and seriously considering making a deal with one of them, he said.
Lenders including Sumitomo Mitsui Banking and Mizuho Bank are planning to increase the staff they allocate to startup businesses, representatives say, in a move driven by the government¡¯s plan to stimulate entrepreneurship. Bankers see additional revenue as clients mature.
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