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FundSpace, Esquire Financial expand business loans

Business | The Stock Market

FundSpace, Esquire Financial expand business loans

By Khriscielle Yalao

FundSpace, the online loan platform of Globe Telecom Inc.’s corporate venture builder 917Ventures, has partnered with business loan provider Esquire Financing Inc. to expand its loan offers to local small and medium-sized enterprises (SMEs).

Through the partnership, SMEs can now apply for loans ranging from P50,000 to P100 million in FundSpace, with interest rates between 1.5 to 3.5 percent. It also offers flexible terms of three to 12 months.

Martin Luchangco, entrepreneur-in-residence at 917Ventures, said FundSpace’s partnership with Esquire Financing Inc. “continues to offer additional and flexible loan options, empowering SMEs in the Philippines to realize their full potential.”

“Our platform's competitive interest rates and efficient application process ensure local businesses have a more accessible avenue to secure funding," added Luchangco.

According to FundSpace Venture Builder Alisa Bermudez, the platform provides entrepreneurs with “swift, user-friendly, and accessible financial resources,” citing its “streamlined loan application process,” and quick processing and disbursement times.

To apply for the loans, eligible entrepreneurs can visit the FundSpace website, input their loan details, choose a loan platform, and submit the necessary documents depending on the loan provider.

When the application is approved, loans are disbursed directly to the borrower’s online bank account.

Eligible SMEs that can apply for the loan must be Filipino citizens aged 21 to 70-years old living in the Philippines and have atleast one year-old businesses registered with the Department of Trade and Industry (DTI) and the local government unit (LGU) in the area where their businesses operate.

“We envision this platform as a springboard for enterprises of all sizes to seize greater opportunities, with financial support now easily attainable," said Bermudez.

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