FundSpace, a loan aggregator under one of Globe Group's portfolio companies 917Ventures, is offering four new loan options for micro, small, and medium-sized enterprises (MSMEs).
This is in partnership with Filipino loan solutions firm Global Dominion Financing Inc. (GDFI) for chattel mortgage loans, business real estate mortgages, medical doctors' loans, and auto loans.
The Chattel Mortgage Loan or the "Sangla OR/CR" car collateral loan pertains to refinancing second-hand vehicles. Eligible individuals can loan a maximum of P4 million.
Meanwhile, up to P3 million can be loaned for auto loans used to finance a new car or truck.
Up to P10 million can be loaned for business real estate mortgages, and a maximum of P1 million can be loaned for Doctor's Loans.
Depending on the type of loan, FundSpace and GDFI can offer interest rates for as low as 0.99 percent.
“FundSpace is honored to welcome Global Dominion Financing, Inc. to our platform. Our partnership is grounded on our mutual goal of helping more Filipinos reach their financial goals. We hope that our clients find a great partner in Global Dominion, as much as we have,” said FundSpace Entrepreneur-in-Residence Martin Luchangco.
“Recently, more and more Filipinos, particularly SMEs, are discovering how access to credit can uplift their lives, and this has been what we have been endeavoring in Global Dominion. We don't just want to be their financing provider, we want to be their business partner," added GDFI Chief Operating Officer Melai Felicidario.
Eligible individuals are Filipino citizens aged 21 to 60 years old. They must present proof of income to avail of the loan.
They can apply for the GDFI loans through FundSpace's online platform through simply filling out the loan application and submitting documents.