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Banks, investors fill ASEAN tech funding gap with loans

HSBC eyes Indonesia as part of lender's Southeast Asian 'growth engine'

Amanda Murphy, HSBC's head of commercial banking for South and Southeast Asia, is looking to set up a lending fund in Indonesia. (Source photos by HSBC and Reuters)

SINGAPORE -- With the stock market slowdown making it harder for Southeast Asia's growth-hungry tech startups to raise funds, they and their venture capital firm backers are turning to a traditional, if often overlooked, source of cash: bank loans. 

Startups typically raise money from venture capital firms and larger companies in exchange for a slice of their equity as most of them are unable to obtain large loans from banks, given their short track records and heavy spending in their early stages. 

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