Frequently Asked Questions

Frequently Asked Questions

Learn more about our products and services. Get your questions answered.

Which 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 from other businesses or government organisations.

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, Financial Services, Gambling, and Legal.

How long does it take to apply?

Once you have submitted all the required personal information and business documents, you may proceed to upload your Invoices and Purchase Orders. Our Risk and Credit Committee will review them within 24 hours. You may expect an update within 3 business days.

You will receive a loan offer after we verify all your documents. Upon acceptance of our loan offer, the funds will be credited to your bank account within 2 business days.

Overall, a seamless loan application process with First Circle will take just 5 business days.

Some instances that might prolong the verification of your requirements is when a document you uploaded is blurry or not valid. You shall receive notifications for this instances within 24 hours. Make sure to upload clear photos of valid documents to avoid any delay.

Is everything done online?

Yes, the whole application process is done online. Say goodbye to filling out actual forms as well as to lining up for hours at a physical branch. We make business financing convenient and easy for SMEs like you.

Is refinancing available to existing clients?

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

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

No. First Circle only offers Invoice Financing and Purchase Order Financing for businesses. We do not offer consumer loans, like personal, home, or auto loans.

How do I apply for financing from First Circle?

Application is completely free of charge and is done online. All you have to do is just submit your personal and business information. Once your details are verified, upload your Invoice and Purchase Orders. Visit our Process & Requirements page for more information.

Disclaimer on Application Fees:
All authorised personnel of First Circle will never ask for any monetary benefit to process your loan applications. Our loan approval criteria is based solely on our credit scoring process. We do not charge any fees prior to the actual loan approval.

First Circle does not conduct any cash transactions. Processing fees that we may charge are always settled through your First Circle Account (FCA).

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.

How much are the interest rates?

Interest rates start at 1.74% per month. In addition, you will be charged a minimal fixed processing fee of 1.99% of the total amount per loan plan. These rates are tailor-fit to varying factors including your credit score and tenure, to name a few.

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We believe business finance should be fast and simple.