917Ventures’ FundSpace Expands SME Loan Offerings Up to ₱100M with Esquire Financing Collaboration
FundSpace, a loan aggregator under Globe’s 917Ventures, has partnered with Esquire Financing, Inc., a leading non-collateral business loan provider, to provide enhanced business financing solutions for Filipino Small and Medium-sized Enterprises (SMEs).
With the integration of Esquire Financing into its platform, FundSpace now boasts one of the most substantial loanable amounts available for local SMEs, ranging from ₱50,000 up to as big as ₱100 million.
These loans come with attractive interest rates between 1.5% and 3.5%, plus flexible terms of three to 12 months. Processing time is also 12 times faster than traditional methods while the disbursement is eight times quicker.
"With our newest partner Esquire Financing Inc., FundSpace 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,” said Martin Luchangco, Entrepreneur-in-Residence at 917Ventures.
Echoing this sentiment, Alisa Bermudez, Venture Builder for FundSpace at 917Ventures, said: "FundSpace provides local entrepreneurs with a swift, user-friendly, and accessible financial resource. We envision this platform as a springboard for enterprises of all sizes to seize greater opportunities, with financial support now easily attainable."
FundSpace collaborates with reputable financing institutions, offering a diverse range of financing options designed to meet the unique needs of every enterprise. The company's overarching mission is to bolster SME operations by providing access to capital through its multiple core products.
One of FundSpace's standout features is its streamlined loan application process. Prospective borrowers can effortlessly select their preferred loan amount and financier and easily receive assistance.
To be eligible for a loan, applicants must be Filipino citizens residing in the Philippines and have businesses registered with the Department of Trade and Industry (DTI) and the local government unit covering their location. They should be aged between 21 and 70 years at the time of loan maturity and have at least 1 year of business operation.
The loan application process is straightforward. Interested individuals can visit www.fundspace.ph, input their loan details, choose an appropriate loan partner, and submit the necessary documents.
While the specific requirements might vary depending on the loan partner, commonly requested documents include a valid ID, TIN ID, DTI-registered business permit, bank statements, and proof of billing. Upon approval, loans are typically disbursed directly to the borrower's online bank account.
For those eager to explore these enhanced loaning options and apply for a loan, please visit FundSpace today. Learn more about 917Ventures and its startups by visiting www.917ventures.com.