alarm apartment arrow-down-circle arrow-down arrow-left-circle arrow-left arrow-right-circle arrow-right arrow-up-circle arrow-up bicycle bold book bookmark briefcase bubble bug bullhorn bus calendar-full camera-video camera car cart chart-bars checkmark-circle chevron-down-circle chevron-down chevron-left-circle chevron-left chevron-right-circle chevron-right chevron-up-circle chevron-up circle-minus clock cloud-check cloud-download cloud-sync cloud-upload cloud code coffee-cup cog construction crop cross-circle cross database diamond dice dinner direction-ltr direction-rtl download drop earth enter-down enter envelope exit-up exit eye file-add file-empty film-play flag frame-contract frame-expand funnel gift graduation-hat hand heart-pulse heart highlight history home hourglass inbox indent-decrease indent-increase italic keyboard laptop-phone laptop layers leaf license lighter line-spacing linearicons link list location lock magic-wand magnifier map-marker map menu-circle menu mic moon move music-note mustache neutral page-break paperclip paw pencil phone-handset phone picture pie-chart pilcrow plus-circle pointer-down pointer-left pointer-right pointer-up poop power-switch printer pushpin question-circle redo rocket sad screen select shirt smartphone smile sort-alpha-asc sort-amount-asc spell-check star-empty star-half star store strikethrough sun sync tablet tag text-align-center text-align-justify text-align-left text-align-right text-format-remove text-format text-size thumbs-down thumbs-up train trash underline undo unlink upload user users volume-high volume-low volume-medium volume warning wheelchair

Frequently Asked Questions

What businesses are qualified to apply for Purchase Order and Invoice Financing?

First Circle’s business financing services are modeled to cater to the needs of SMEs that receive large purchase orders or have pending invoices. However, we cannot work with businesses that belong in the following industries:

  • Multi-level Marketing
  • Insurance
  • Real Estate
  • Non-profit Organizations
  • Research and Development
  • Banking
  • Construction Manpower and Services
  • Gambling
  • Legal

Does First Circle offer personal loans, auto loans, or housing loans?

No. First Circle only offers purchase order financing and invoice financing for businesses. We do not offer consumer loans, like personal, home, or auto loans.

How do I apply for financing from First Circle?

There are two ways of applying for a Purchase Order or Invoice Financing from First Circle:

1. First Circle App

Download the First Circle mobile app from the App Store or Google Play. Follow the steps in securing a TrustPass. The TrustPass enables loan applicants to submit requirements with ease and convenience. The First Circle credit and risk committee will review the requirements you will submit as you try to secure a TrustPass.

Once your TrustPass has been granted, you may begin submitting the purchase orders and invoices you would like to get financed.

Learn more about how you can secure a TrustPass from the Process & Requirements page.

2. Online Web App

You may also apply and secure a TrustPass through the online form which can be accessed here in the First Circle website. Just fill in the fields with the required details as you create an account. Once an account is created, you may begin submitting your requirements to secure a TrustPass.

You may complete your application process both in the mobile app and website. For example, you started filling out the online form on the website but need to leave it for the meantime. Once you have installed the First Circle mobile app and continue the application process. Then, you may begin completing it from where you left off in the website application.

How long does it take to apply?

Once you’ve submitted all the required documents, the Risk and Credit Committee will review it within 24 hours. Expected lead time in waiting for application’s status update is 3 days from submission of requirements.

You will receive loan offers after we verify all your documents. Accept your loan offer to receive the money in your bank account in 2 days. Overall, a seamless loan application process with First Circle will take just 5 days.

Some instances that might prolong the verification of requirements is when a document uploaded by the applicant is blurry or not valid. Notifications for this instances will be received within 24 hours. Make sure to upload clear photos of valid documents to avoid delays.

What are the requirements?

The list of required documents are listed down in the Process & Requirements page. We serve two different categories: sole proprietors registered under DTI, and partnerships or corporations registered under the SEC.

There are different sets of requirements for each.

Is everything done online?

Yes, the whole application process is done through the First Circle app or website. Say goodbye to filling out paper forms and to lining up for hours in a physical branch. We make business financing convenient and easy for SMEs.

How much are the interest rates?

Interest rates range between 1.99-3.49% per month. In addition to this, a fixed processing fee of 1.99% of the total loan amount will also be charged per loan.

These rates are tailor-fit to varying factors including the client's credit score and tenure, to name a few.

Is refinancing available to existing clients?

Yes, a majority of our clients regularly refinance with us. Clients eligible for refinancing are those who have good credit standing.

First Circle’s old clients who usually need funding for their purchase orders and invoices are encouraged to download the First Circle mobile app. Through the mobile app, they can submit a picture of their purchase orders and invoices in 2-5 minutes.

Can't find your answer anywhere? Contact us and we'll get back to you as soon as possible