Full-operating companies with two-year track record may avail of collateral-free loans to meet increased purchasing orders as the Christmas holiday season approaches.
Finance company First Circle Growth Finance Inc. said over the weekend it provides short and long-term financing to Philippine Exporters Confederation Inc. (PhilExport) and its members.
“With the “ber” months, inventory is a common concern among business owners. If you expect a surge of customers and clients but have insufficient capital to cover the costs, applying for short-term financing is a solution to the issue,” First Circle said.
It said short-term financing is a loan that covers a period of up to a year and is used to fund activities such as increasing inventory and supplies, fulfilling purchase orders, and meeting payroll and salary needs.
Long-term financing, meanwhile, is a credit scheme payable over more than one year and used to finance research and development studies, acquire equipment, cover the costs of projects, purchase land to be used for the business, and expand company operations.
“There are various loan products that companies can choose from depending on their business needs,” First Circle said, including line of credit, secured and unsecured loans, accounts receivable financing and purchase-order financing.
The company said that it offers business growth financing of P100,000 to P500,000 but with varying interest rates.