The SME Development Center, based in Yangon, was established to serve the vast majority of all businesses in Myanmar that are micro, small and medium-sized enterprises. It is in its infancy in terms of the services it provides, but it aims to be a meaningful resource in the future. Implement-ing programs that are typically supported by the donor community, the Department will offer training and capacity-building services for small businesses, including on topics such as financial management, technology-related opportunities, consumer protection, and intellectual property. The Department also advises new enterprises – at least half which are formed by women – on the complex matter of formal registration. Under the law (including the 2015 SME law; a 2011 law on cottage industries; and the 1990 private industry law), there are at least three different systems for business registration, depending on the size and nature of the firm. The SME Development Center also aims to assume a lending function. In 2014, the Ministry of Industry signed a memo-randum of understanding with overseas lenders that secures $20 million USD from Singapore and Vietnam, to be paid back at a rate of four percent. The SME Development Center will loan to My-anmar businesses at a rate between 6 and 8.5 percent, according to news reports.