FundSpace, RFC to offer new financing options

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FundSpace, a loan aggregator under Globe Telecom Inc.’s 917Ventures, has partnered with non-bank financial institution Radiowealth Financing Company (RFC) to offer new financing options, including chattel mortgage and real estate loans to small and medium-sized enterprises (MSMEs).

This aims to expand access to financial services for underserved local businesses, creating new opportunities for entrepreneurs to secure financing, FundSpace said.

Through the partnership, SMEs could obtain loans offered by RFC through FundSpace, ranging from P300,000 to P5 million, with terms from three to 36 months and interest rates of 1.92 percent for chattel mortgages and 2.25 percent for real estate mortgages. Auto and medical loans are also available, FundSpace said.

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“Despite our long history, we have only reached a small segment of the market in need of small loan financing, such as tricycle drivers, sari-sari stores, and market vendors. This year, we are aggressively pursuing that,” said Donald Francis Chiong, RFC president and chief executive officer.

FundSpace’s platform streamlines the loan application procedure, enabling applicants to conveniently choose their preferred loan and financial partner, for a seamless application experience.

The collaboration comes at a pivotal moment for RFC as it celebrates its 60th anniversary and seeks to expand its offerings in the Philippine financing market.

RFC specializes in micro-financing, serving the underserved market – a segment often overlooked by the financial world, especially banks. Its goal is to connect with and create more opportunities for underprivileged Filipinos.

Meanwhile, FundSpace works alongside reputable financing institutions such as RFC to present a diverse range of financing options tailored to meet the requirements of various companies, furthering its goal of making capital more accessible to SMEs.

“Our partnership with RFC represents a significant step for FundSpace and the Filipino SME sector. By adding RFC’s loan products to our platform, we aim to boost more business’ growth and foster further financial inclusion,” said Martin Luchangco, FundSpace entrepreneur in residence.

Eligible applicants are Filipino citizens above 21 years with at least one year of business operation.

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