Now the company, which is planning to double its workforce, is going after other major contracts.
"Acquiring new business is key for our company and HBL has made it possible," says Chaudery.
To help reverse these trends, IFC is ramping up its investment and advisory work in the country.
We have helped train more than 4,400 entrepreneurs in the fundamentals of commerce through Business Edge, a specially-designed program pioneered by IFC. At the same time, IFC also has given instruction to over 200 trainers who have shared their expertise with scores of budding business people.
A few years ago, Chaudery landed a major contract with one of Pakistan’s biggest conglomerates, the type of deal that could take Electrum to the next level.
But the company, which employs 20 people, was facing a conundrum: it didn’t have the manpower or equipment to complete the project.
It provided smaller businesses with an easy-to-manage bank account, financing to cover day-to-day operations, loans that help firms expand, and assistance in trading across borders.
It also offers services in English and Urdu, the latter something most lenders don’t provide.
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