FundSpace, a loan aggregator under Globe’s 917Ventures, has partnered with veteran non-bank financial institution Radiowealth Finance Co. (RFC) in offering financing options that best suit small and medium-sized enterprises (SMEs).
This widens access to financial services for underserved local businesses and create new opportunities for entrepreneurs in securing financing.
With FundSpace, SMEs may now obtain RFC loans ranging from P300,000 to P5 million with three- to 36-month terms 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’s platform has streamlined the loan application procedure, enabling applicants to choose their preferred loan and financial partner for a seamless application experience.
The collaboration comes as RFC celebrates its 60th anniversary and expand its offerings in the Philippine financing market.
“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,” Donald Francis Chiong, RFC president and chief executive, said.
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.
FundSpace works alongside reputable financing institutions like RFC with a wide 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,” Martin Luchangco, FundSpace entrepreneur-in-residence said.
