In a bid to improve access to fast, fair, and flexible business financing, First Circle now offers their Revolving Credit Line in 5 new Philippine regions:
- Region I - Ilocos
- Region V - Bicol
- Region VI - Western Visayas
- Region VIII - Eastern Visayas
First Circle will also continue to serve business owners in the following regions:
- National Capital Region
- Region 3 - Central Luzon
- Region 4A - CALABARZON
- Region 7 - Central Visayas
- Region 10 - Northern Mindanao
- Region 11 - Davao
Micro, small, and medium enterprises (MSMEs) account for at least 99.5% of all businesses in the Philippines, yet the SEC reports that at least 67% of them are still experiencing credit constraints in 2023. To help bridge this financing gap, First Circle is tirelessly working to bring their flagship product, the Revolving Credit Line, to more regions nationwide.
The Revolving Credit Line provides business owners a set amount of money that they can dip into whenever the need arises. Opening a credit line is free and only takes 2 business days. Once their credit line is active, business owners can withdraw a business loan from it any time without submitting any further documents. The Revolving Credit Line currently offers up to ₱20 million in credit for as low as 0.99% monthly interest.
In contrast to term loans, which disburses a lump sum to be repaid monthly, the Revolving Credit Line can also serve as free cash insurance for businesses that don't need immediate financing. Business owners only pay for the funds that they used, plus interest applied to that amount -- making it a more flexible and convenient alternative to the typical business loans in the market.
First Circle, a trusted partner of the Department of Trade and Industry (DTI), is a fintech company founded in 2016 to empower Philippine SMEs. You can catch us at future DTI and business chamber events in Luzon, Visayas and Mindanao, or contact us through any of our details below.