From left, FUSE Lending chief financial officer Gabby Lacuesta, president & CEO Tony Isidro, Esquire Financing chairman & CEO Rajan Uttamchandani, and president and COO Navin Uttamchandani
GCash, Esquire Financing join forces to bolster SME growth
In line with their commitment to promote financial inclusion, GCash and its affiliate FUSE Lending have signed a Memorandum of Agreement (MOA) with Esquire Financing to extend non-collateral business loans to small, and medium enterprises (SMEs).
The agreement is an important milestone in improving the scalability of credit-worthy entrepreneurs, as Esquire Financing enables GCash to extend credit to deserving SMEs.
GCash lineup of lending products currently includes GCredit, which offers a revolving credit line, GGives, which enables users to break down payments into easy installment plans, and GLoan, which offers all-purpose cash loans based on the user’s credit score. The partnership with Esquire is seen helping SMEs expand their operations.
The strategic partnership reflects their commitment to their common vision of “Finance for All.” GCash, FUSE Lending, and Esquire Financing are now working together in removing the barriers to business growth by providing SMEs with seamless access to vital capital.
Esquire Financing was established in 2011 and has since become the biggest non-bank lender in the SME space. It introduced non-collateral business loans tailored to the unique requirements of each credit-worthy SME, ranging from P100,000 to P10 million.
By combining GCash’s large customer base and ease of using the app, FUSE’s strength in retail lending, along with Esquire Finance’s expertise on SME lending, the partnership is poised to empower millions of entrepreneurs across the country and revolutionize their access to much-needed capital.
Signing of bilateral MOU between Ireland and the Philippines
The Ambassador of Ireland to the Republic of the Philippines, H.E. William Carlos recently joined the Secretary of Foreign Affairs H.E. Enrique Manalo for the signing of a Memorandum of Understanding on Bilateral Consultations.
This agreement between Ireland and the Republic of the Philippines will bring closer cooperation at a senior official level on issues of mutual priority. The consultation framework will provide a forum for alignment on issues of global importance and to focus on specific actions to strengthen the bilateral relations between the two countries.
Ambassador Carlos noted in his remarks that this is a timely agreement as the connections between Ireland and the Philippines have strengthened greatly in recent years. The Embassy of Ireland to the Republic of the Philippines opened in November 2021, opening new channels for business, education cooperation, cultural exchange and political dialogue. The Philippines has also announced its intention to open an Embassy in Ireland soon.
Meanwhile, the number of Filipinos living in Ireland continues to grow and is already one of the ten largest diaspora groups in the country.
The establishment of this Bilateral Consultations Mechanism marks a further deepening of this relationship and further dimension that strengthens the political cooperation between Ireland and the Republic of the Philippines.
Following the signing of the agreement, the Embassy will work closely with the Department of Foreign Affairs of the Republic of the Philippines to prepare the inaugural consultations
IFC Partners with Bank of the Philippine Islands to increase climate finance, boost green growth
In order to grow climate finance in the Philippines, the International Finance Corporation (IFC), a member of the World Bank, has agreed to invest $250 million in a green bond to be issued by Bank of the Philippine Islands (BPI), the second largest private bank in the country.
This is the biggest deal IFC has done with a financial institution in the Philippines.
SGV & Co. signs MOU with PHINMA Education
Top photo, from left, SGV senior director Elvin Mercader, SGV assurance leader Martin Guantes, consulting partner and iTeach program director Allan Ocho, SGV vice chair and deputy managing partner Vivian Ruiz, SGV chairman and country managing partner Wilson Tan, PHINMA Education country head Christopher Tan, PHINMA Araullo University College of Management and Accountancy Dean Emerita Modesto, PHINMA Education Country Chief Learning Officer Glenn Laigo, PHINMA Araullo University Dean Marvin Salviejo, SGV assurance partner Belinda Beng Hui, and SGV Business consulting senior Jervie Sta. Ana.
Bottom, from left, SGV vice chair and deputy managing partner Vivian Ruiz, consulting partner and iTeach program director Allan Ocho, SGV chairman and country managing partner Wilson Tan, PHINMA Education Country head Christopher Tan, and PHINMA Araullo University College of Management and Accountancy Dean Emerita Modesto.
The SGV iTeach Program aligns with the Firm’s commitment to continue its late founder Washington SyCip’s advocacy for lifelong learning. The program aims to enable educators by updating them on the latest accountancy and technology trends and helping them bridge the gap between theoretical principles and actual practice. This includes collaborations with schools and professional organizations to facilitate training and workshops, provide inputs to the schools’ programs, curricula and syllabi, develop case studies, and provide guest lecturers.
In addition to training and workshops, SGV also explores the possibility of an online community where educators can come together to share best practices. To date, the SGV iTeach Program has been able to reach out to and build awareness with around 7,000 teachers, students, and other professionals across the country.
The MOU signing took place at the SGV Museum at Shang Grand Tower, Makati City.
BDO waives remittance fees on donations to Typhoon Egay victims
To help Filipinos whose lives and properties were devastated and damaged by Typhoon Egay recently, BDO Unibank is waiving remittance fees on donations to be sent to its BDO Remit offices abroad from August 1 to September 30.
Those who want to help can send their donations to the following:
– BDO Foundation, Inc.
– ABS-CBN Lingkod Kapamilya Foundation, Inc.
– GMA Kapuso Foundation, Inc.
– Philippine Red Cross
Just visit any BDO Remit office in Hong Kong, Macau, Japan, Daly City in the USA, Toronto in Canada, and the United Kingdom. For the complete list of addresses, visit www.bdo.com.ph, click Remittance Services and select BDO Remit international offices.
Several provinces have declared a State of Calamity due to the great damage caused by Typhoon Egay. This includes the provinces of Pampanga, Cagayan, Ilocos Norte, Bataan, Cavite, Mountain Province, and Apayao.
PLDT sees next gen connectivity powering Industry 4.0
At the recently held ‘Policy Forum on the Advancement of Industry 4.0 and Digital Transformation of Industries in the Philippines’ organized by United Nations Industrial Development Organization (UNIDO) and the Department of Trade and Industry (DTI), Melvin Jeffrey Chan, PLDT vice president and head of Enterprise Innovations, Business Development, Consulting, and Presales, cited PLDT’s innovations and trailblazing initiatives.
PLDT sees next generation connectivity solutions accelerating the next industrial revolution and powering companies as they embrace digital transformation.
The fourth industrial revolution or Industry 4.0 is characterized by computer interconnectivity and smart automation where more advanced sensors and systems allow various machines to access and process data, learn and talk with each other, and make decisions without the need for human intervention.
PLDT, through its B2B arm PLDT Enterprise and its ICT arm ePLDT, is blazing the trail for innovative Cloud and Data Center solutions for enterprises. ePLDT maintains ten VITRO data centers across the country to fill the IT outsourcing demands of businesses. Once completed, its VITRO Sta. Rosa in Laguna will be the country’s largest and most advanced data center with a total power capacity of 50MW.
AFPMBAI reaches ₱2-B milestone in CSR Programs
The Armed Forces and Police Mutual Benefit Association, Inc. (AFPMBAI) — one of the top mutual benefit associations in the country — recently reached the ₱2-Billion milestone for its CSR Programs.
True to its Buhay na Panatag commitment to military and uniformed personnel (MUP) members and their families — AFPMBAI subscribes to the highest standards of corporate governance that provides them with the capacity to deliver CSR programs tailored for MUP members and anchored on three pillars: education, health, and general welfare.
AFPMBAI recognizes that the inevitable risks attached to MUP service threatens the sustained capacity of their family to support the education of their children. In response, AFPMBAI established the Grants for Dependents (GRADE) Scholar Program in 2012, which provides tuition and stipend to dependents of members killed-in-action or discharged from duty due to permanent disability.
As of 2023, AFPMBAI has released a total of ₱44 Million under the GRADE Scholarship Program, with the current tranche of 80 children of MUP benefitting from the program. To date, more than 300 scholars under this program have successfully graduated from both secondary and tertiary schools all over the country.
In addition, AFPMBAI has also constructed early learning facilities under the Early Child Care Development (ECCD) Program to support the early childhood education and development of dependents of MUP.
Under the health program, AFPMBAI implemented projects like Adopt-A-Ward, upgrading and renovating existing health facilities at the ward levels for better medical care of MUP.
At the height of the COVID-19 pandemic, released ₱375 million to military and uniformed personnel services to support COVID-19 mitigation measures including the donated medical supplies and equipment worth ₱44 million to the Victoriano Luna Medical Center and the Veterans Memorial Medical Center.
Mariana Zobel De Ayala keynotes National Retail Conference
Mariana Zobel De Ayala (center) delivered her keynote address titled “The Power of Women at the Forefront of Progress” at the opening of this year’s two-day National Retail Conference and Expo (NRCE), organized by the Philippine Retailers Association (PRA) at the SMX Convention Center Manila. Zobel de Ayala has joined the illustrious list of distinguished names headlining the country’s biggest annual retail conference. The 29th edition of the National Retail Conference and Expo 2023 (NRCE) with the theme “Retail Breakthrough”, that ran from August 10 to 11, was the biggest and most significant retail event in the country that brought both local and global retail players into one venue to discuss trends and challenges in the retail sphere. In photo, PRA stalwarts led by its president Roberto Claudio, Sr. (2nd from right), chairman emeritus of Quorum International, Inc.; chairwoman Rosemarie Bosch Ong (2nd from left), SEVP/chief operating officer of Wilcon Depot Inc.; director Sam Gregory Lim (left), chief operating officer of BLIMS Lifestyle Group; and NRCE 2023 overall chairman Bienvenido Tantoco, III (right), president of Rustan Commercial Corp. presenting the plaque of appreciation to Zobel de Ayala.
